Definition of Competitor analysis:
Strategic techniques for estimating external competitors. The analysis seeks to identify the strengths and weaknesses of the company's competitors and then uses this information to enhance efforts within the company. Effective analysis begins with gathering important information from competitors and using that information to predict how competitors will react in certain situations.
How to use Competitor analysis in a sentence?
- We think the cost of the service is very high, but after careful analysis of the competition, it did not happen.
- After a brief analysis of the competition, we can quickly identify the key factors that can set us apart from our competitors.
- You will need to do a competitive analysis to see if you can learn from others in your industry.
Meaning of Competitor analysis & Competitor analysis Definition