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A competitive analysis worksheet is a structured tool used to collect and organize data about competitors. This worksheet typically includes categories like strengths, weaknesses, market share, and strategies. The West Virginia Competitor Analysis Worksheet serves as a practical guide to systematically analyze your competitors and gain valuable insights that aid in strategic planning.
Here is a step-by-step process for writing a competitor analysis report:Write down your competitors.Write what you know about them already.Discover who their target customers are.Discover their pricing methods.Investigate their marketing strategy.Figure out their competitive advantage.
Typically, a competitive analysis report will contain:A description of your business's target market.Details about the features of your product compared to your competitors' products.A breakdown of current and projected market share, sales, and revenues.Comparisons of pricing models.More items...?
5 Step Market Analysis PlaybookDefine. The first step is to identify all of the key players in your target market.Analyze. Analyze the activities of competitors, customers, etc. to identify commonalities & key characteristics.Trend.Share.Measure.27 Sept 2019
Here is a step-by-step process for writing a competitor analysis report:Write down your competitors.Write what you know about them already.Discover who their target customers are.Discover their pricing methods.Investigate their marketing strategy.Figure out their competitive advantage.
How to Do a Competitive Analysis - 8 Simple StepsStep 1 - Choose your Top Competitors.Step 2 - Describe Each Competitor.Step 3 - Describe Their Competitive Offering.Step 4 - Summarize Their Online Presence.Step 5 - List Their Strengths.Step 6 - List Their Weaknesses.Step 7 - Identify Your Opportunities.More items...?
The following are examples of things that are commonly included in a competitor analysis.Brand Awareness. The percentage of your target market that are familiar with the competitor's brand.Costs.Products.Customer Experience.Capabilities.Financials.Organizational Culture.Intellectual Property.More items...?
Develop (or validate) your Unique Value Proposition. Prioritize your product development by focusing on the aspects of competitors' products customers value the most. Improve your product by capitalizing on competitors' weaknesses customers complain about. Get benchmarks to measure your growth against.
How to use the competitive analysis templateComplete your competitor profile.Discover your competitive advantage.Compare your target markets and market share.Compare your product offerings.Dig into your marketing strategies.Conduct a SWOT analysis.
How to use the competitive analysis templateComplete your competitor profile.Discover your competitive advantage.Compare your target markets and market share.Compare your product offerings.Dig into your marketing strategies.Conduct a SWOT analysis.