What is the meaning of competitive analysis?
 

Hello friends,


What is the meaning of competitive analysis?

A competitive analysis is the analysis of your competitors and how your business compares. By evaluating the strengths and weaknesses of your competition.

Competitive analysis is one of the primary method, which is every new business website owner must be done before promoting his/her product through the website. There are a lot of tools are available on the web, who can provide you sufficient data about your competitors, like keywords, backlinks, latest blogs, monthly visitors and paid keywords as well. I personally prefer Ahref and SEMRUSH tool for doing competitive analysis.

The Competitive Analysis section of your business plan is devoted to analyzing your competition--both your current competition and potential competitors who might enter your market. ... Here is a simple process you can follow to identify, analyze, and determine the strengths and weaknesses of your competition

Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service .