What is a Competitive Analysis and How Do You Conduct One? [Video]

Every time I work with a new brand, my first order of business is to conduct a competitive analysis. 

A competitive analysis report helps me understand the brand’s position in the market, map competitors’ strengths/weaknesses, and discover growth opportunities. 

In this article, I’ll break down the exact steps I follow to conduct competitor analysis and identify ways to one-up top brands in the market. 

We’ll cover:

• What is competitive analysis?
• What is competitive market research?
• Competitive Analysis in Marketing
• How To Conduct Competitive Analysis in 5 Steps
• How to Do a Competitive Analysis (the Extended Cut)
• Competitive Product Analysis
• Competitive Analysis Example
• Competitive Analysis Templates
• Competitive Analysis FAQs

Competitive analysis gives you a clearer picture of the market landscape to make informed decisions for your growth. 

That said, you have to remember that competitive analysis is an opportunity to learn from others. It isn’t:

• Copying successful competitors to the T.
• Trying to undercut others’ pricing.
• A one-and-done exercise.

Let’s look at …