A competitive analysis is assessment tool to identify potential competitors and evolutionary analysis of their strengths & weaknesses comparing with business itself. This analysis may help to determine competitors’ marketing strategy and its market performance compare to your business performance.Simply the outcomes from the analysis may help you to understand what we have and what really needs to improve. This may be initial milestone to potential improvement of entire system as well marketing strategies.
Actually the competitive analysis is research tool of marketing used for analyze and review specific market information. Most of the companies are using this analysis to determine strengths and weaknesses of competitors. This tool may help to determine what our business advantages, and where potential improvement require. The outcomes from this analysis will be helpful to focus on areas where more focus require to improve performance in market.
Some of the best research technique is to frequently questionnaires can focus for help to identify valuable information about the competition in the market. Normally most of the businesses are creating the strategic group to list out the product & services that offering to the market. This will be impact the pattern, objectives and strategies of the marketing plans.
Basic of competitive analysis [Questionnaires]
Some the questions that may help you to organize your competitive analysis, these questions are:
- Identify who are your competitors? and list out top five competitors which are performing better or equally in the market.
- Usually competitors are selling same products or services which you are selling in the market. Hence, you have to make sure the range of product which they are offering, which range / size or specific products are more demand of your competitors.
- Understand the ratio and percentage that is market share of your competitors.
- Compare your business with your competitor’s business age, how long have they been in the market, what are base of their business etc.
- Analyze the competitor’s’ strengths & weaknesses. It may include marketing and promotional strategies, even past & current strategies.
- Find out which media is best communication and interacting with their customers.
- It will be not easy to find out revenues, pricing structures, sales volumes, growth rates, etc. of the competitors. But this information will be help to accurately measure their business structure.
- Realize that, your competitors & your business’s targeted market segment is same? if yes, then how they are deliver the products and handling customers’ requirements?
Even, some of the points that you can’t negate such as competitors’ treats & opportunities, positive & negative attributes from customers, advantages of competitive, geographic areas, scales etc.
Competitive Analysis Templates
Actually competitive analysis template may help to identify the opportunities & growth of business to analyze the market information. These templates may also help to understand competitors’ strengths and weaknesses. Mostly the competitive analysis template is used for the compare marketing strategies with competitors.
- Competitive Market Analysis templates for Excel
- Free competitive analysis templates – Word & Excel formats
- Website Competitive Analysis templates – SEO
- Simple Competitive analysis template – Free marketing templates
- Printable Competitive analysis formats & templates download
Evaluating the market performance of potential competitors is very important part of the marketing management. It may help to develop the marketing strategies, and improvement in core system of marketing. These templates can help to organize the research data with easy and flexible manner. Simply you can use this templates information for the reference to create your own competitive analysis templates.
Competitive Market Analysis templates for Excel
This is unique design template are mostly use and focus on the improvement of marketing functions, and overall performance in the market. It will be focus on how the business improve their values in the market through their strategies. Competitive Market Analysis templates are best to create in excel sheet. The excel sheet have its own advantages, even an advance tool that will help to create unique design.
Free competitive analysis templates – Word & Excel formats
Creating a competitive analysis template can be tough if you don’t have enough information and tools. Hence, here you can find out the best ready made templates which is cover almost all the requirement for the analysis of competitors. Normally the businesses should have to use tools as per their market requirements. Which is more accurate and reliable for their business? Hence, here you can find variety of the templates that can be suitable out of these templates.
Website Competitive Analysis templates – SEO
The Website Competitive Analysis template can be varying from the different business templates. Because the website competitive analysis is internet and website design business that is different from the manufacturing, engineering or service industry. Hence, the initial formation, structure even and contents can be varying from the all type of analysis templates. If you don’t know how to prepare the website competitive analysis template. You can download this format for the use as reference. This information may be used for the creating your own design and structure.
Simple Competitive analysis template – Free marketing templates
This simple competitive analysis template is usually to organize and analyze the basic information from the market research. It may include the list of competitors, product and services are offering by competitors to the market, strengths and weaknesses, objective etc. This information may be help to determine about competitors as well self. The improvement steps may depend on this analysis of the marketing management.
Printable Competitive analysis formats & templates download
It is very important to creating the template which is helpful to print out as on required for hard copy. Actually this is obvious that the businesses are creating a soft copy and print the entire document for filling or any other purpose. Hence, it is very important that each template should design well to easier for print. You can use this template contents and design as reference for your own competitor analysis template.