Competitive analysis is a strategy in which you research a competitor's products, services, sales, marketing strategies, and other metrics to create strong business strategies.

We will now discuss five different competitive analysis frameworks that help you stay ahead of your competitors.

1. SWOT Analysis
It is a technique that gives you an idea of your strengths, weaknesses, opportunities and threats in your business.

You can apply this technique to your products/services, sales and marketing strategies, target audience, etc.

2. Porter's five forces
This is a group of analyzes in which you study five different factors such as competitive rivalry, supplier power, buyer power, threat of substitution, and threat of new entry.

This can help you understand the strength of an organization's current and future competitive position.

3. Analysis of the strategic group
It can be created based on many parameters such as specialization, brand identification, market trends, product quality, technological positions, vertical integration, cost position, production policy. price, etc.

It is used to examine the competitive environment and rivalry between competitors within an industry.

4. Growth-share matrix
The Growth and Share Matrix is a chart divided into four quadrants, each with its own unique symbol that represents a certain degree of profitability: question marks, stars, pets, and cash cows.

It is a planning tool that uses graphical representations of a company's products and services in an effort to help the company decide what it should keep, sell, or invest more.

5. Perceptual mapping
Within this framework, you can determine where your brand, products and services stack up against your competitors.
It generally consists of two attributes: Price and Quality

Perceptual mapping is a diagrammatic technique used by asset marketers that attempts to visually display the perceptions of customers or potential customers.

Our free competitive analysis kit to help you get started:
https://upmetrics.co/download/competitive-analysis-kit

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