How to Analyse your Competitors? Steps in Competitor Analysis

Competitive Environment
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Marten van der Zee
Analyst, Netherlands
An approach that is often used in the process of analyzing competitors exist of the following four steps: 1. Define the structure and the characteristics of the industry / sector (5 Forces) 2. Identify and analyse strategic groups, having a similar (or the same) strategy in the same market. 3. Identify, analyse and evaluate the most important competitors. A direct competitor is a company which sells products in the same market. 4. Anticipate on actions of your direct competitors. Strategic thinking and managing requires a business to be proactive dealing with the actions of competitors. (...) Read more? Sign up for free

 

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