What is it?
Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.
Why do it?
- To gain an advantage over your competitor.
- To target your market.
- To develop a focus.
- To create product differentiation.
- To unique selling proposition.
- Save time in developing product pricing.
- To developing strong SEO positioning
How will it help my web marketing?
Knowing your competition will improve your competitive positioning, it will strengthen your SEO, it will focus your advertising and give you higher ROI for money & time spent marketing.