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How to do competitor analysis for business plan?

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How to do competitor analysis for business plan?
posted Apr 6 by Ati Kumar

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1 Answer

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The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

The competitive analysis can be based on the following points

  1. The reasons behind successful as well as unsuccessful firms

  2. Prime customer motivators

  3. Major component costs

  4. Industry mobility barriers

answer Apr 10 by Sherlyn Mishra
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