A compeLlLlve analysls covers

flve key Loplcs

* Your companv's compc|i|ors.
' Compc|i|or produc| summarics.
' Compc|i|or s|rcn|hs and wcakncsscs.
' Thc s|ra|cics uscd bv cach compc|i|or
|o achicvc |hcir obcc|ivcs.
' Thc markc| ou|look.
A LlsL of CompeLlLors
1he analysls beglns wlLh a llsL of your companys compeLlLors
MosL of Lhe Llme such a llsL ls comprlsed of whaL your company
conslders Lo be lLs chlef compeLlLors Powever Lhere may be
oLher companles LhaL lndlrecLly compeLe wlLh yours ones LhaL
offer producLs or servlces LhaL are almlng for Lhe same
cusLomer caplLal
?ou wlll also wanL Lo lnclude lnformaLlon on companles LhaL
may be enLerlng your markeL ln Lhe comlng year Cnce you have
complled Lhe llsL you can hlghllghL Lhose companles LhaL wlll be
Lhe greaLesL challenge
CompeLlLor roducL Summary
Analyze Lhe compeLlLlons producLs and servlces ln Lerms of
feaLures value and LargeLs Pow do your compeLlLors sell Lhelr
wares? Pow do Lhey markeL Lhem? CusLomer saLlsfacLlon surveys
conducLed by Lhe Lrade press can help you Lremendously Pow do
cusLomers see your compeLlLlon? Ask your sales force for
lnformaLlon Lhey can be your besL source of lnformaLlon abouL
your compeLlLors cusLomers
lLs llkewlse lmporLanL Lo lnclude lnformaLlon on how compeLlLors
dlsLrlbuLe and adverLlse Lhelr producLs ?ou wlll wanL Lo Lalk
abouL producL quallLy and where posslble flnd ouL how Lhey are
sLaffed
CompeLlLor SLrengLhs and Weaknesses
As you puL LogeLher Lhe llsL of compeLlLor sLrengLhs and weaknesses be
ob[ecLlve ?oull do your company no good lf you allow blas Loward your
own producLs and servlces Lo cloud your [udgmenL 1ry Lo see Lhe
compeLlLlons producLs as Lhough you were Lhe compeLlLor WhaL makes
Lhelr producLs so greaL? lf Lhey are growlng rapldly whaL ls lL abouL Lhelr
producL or servlce LhaLs promoLlng LhaL growLh?
?ou can flnd Lhls lnformaLlon ln a varleLy of ways CerLalnly Lhere are
numerous lnLerneL resources you can use Lhe compeLlLors Web slLe ls
always a good sLarL 1he Lrade press ls an lnvaluable resource buL donL do
all your research Lhrough Lhe lnLerneL Make some phone calls Lalk Lo Lhe
[ournallsLs and consulLanLs who are acLlve ln Lhe lndusLry 1hese people are
a loL easler Lo flnd Lhan youd Lhlnk and Lhey are ofLen happy Lo share facLs
and oplnlons wlLh you
CompeLlLor SLraLegles and Cb[ecLlves
Cbserve how your compeLlLors markeL Lhemselves Lhrough press releases
and adverLlslng CuarLerly and annual reporLs reveal a greaL deal of
lnformaLlon Loo 8uL more Lhan llkely youll have Lo do qulLe a loL of
fooLwork Lo nall your compeLlLors down
lnLervlews of [ournallsLs and consulLanLs can be valuable ?ou wlll have Lo go
Lo many dlfferenL sources Lo geL a compleLe plcLure WhaL abouL your
compeLlLors cusLomers? Cood sales people wlll know who Lhey are and can
help you geL Lhls sorL of lnformaLlon lL Lakes pracLlce and a llLLle
shrewdness on your parL Lo plece LogeLher a compleLe plcLure of sLraLegles
and ob[ecLlves locus on Lhe facLs be perslsLenL and LrusL your lnLulLlon Lo
help you
MarkeL CuLlook
WhaL ls Lhe markeL for your companys producL llke now? ls lL growlng?
lf so Lhen Lhere are llkely qulLe a few cusLomers lefL Lo go around lf on
Lhe oLher hand Lhe markeL ls flaL Lhen Lhe compeLlLlon for cusLomers ls
llkely Lo be flerce ?our company wlll flnd lLself scrambllng Lo wln markeL
share ls Lhe markeL spllnLerlng ls lL breaklng up lnLo nlches?
1he ouLlook porLlon of your analysls may seem llke prognosLlcaLlon buL
lLs really a measure of Lrends 8y Lhe Llme youve done mosL of your
research youll have enough lnformaLlon Lo deLermlne whaL Lhe ouLlook
really ls