Research Topics:

Competitive Intelligence | Competitor Analysis Evaluation | Competitor Customer Research

Industry/Market Focus:

Business-To-Business

Content Type:

Glossary

Competitor Analysis Evaluation Definition

An assessment of the product, price, technical capabilities, quality, customer service, delivery, sales, profit and strengths and weaknesses of current and potential competitors.

Competitor analysis evaluation assesses and studies the strengths and weaknesses of rival businesses operating in the same industry or market. More specifically, it is an assessment of products, prices, technical capabilities, quality, customer service, delivery, sales, profit, strength and weaknesses of current and potential competitors. The goal of the evaluation is to evaluate and measure your company's own marketing strategies and market position. Insights that are collected can refine that business’s target audience and develop strategies to differentiate offerings. Also, it helps a company identify potential threats and opportunities, reduce risks and create more impactful marketing plans.

Who relies on competitor analysis evaluation?

Marketing teams, product managers, strategic planners and executives use competitor analysis evaluation to decide about their marketing tactics, product development and overall business strategies.

Why should I care about competitor analysis evaluation?

Competitor analysis evaluation identifies market trends, anticipates competitor moves, discovers gaps in the market and refines value propositions. Insights can be used to improve strategies intended to keep businesses competitive.