Effective Techniques of Competitor Analysis

Overview

Effective competitor analysis is essential for businesses to gain insights into their competitive landscape, identify strengths and weaknesses, and develop strategic plans to gain a competitive advantage. The "Effective and Practical Techniques of Competitor Analysis" course is designed to provide professionals with the necessary knowledge and practical skills to conduct comprehensive competitor analysis effectively.

Competitor Analysis is a key area every professional does to understand their business presence. It gives you insight into your business standings and also knowledge of your competitors and their strengths and weaknesses. Analysing your competitors helps you understand the market and your power to deal with the competitors. It is an essential marketing and strategic tool. It provides both an offensive and defensive strategic tool to analyse opportunities and threats.

Additionally, the course covers practical techniques and tools for conducting competitor analysis, such as SWOT analysis, Porter's Five Forces framework, benchmarking, market research, and competitive intelligence gathering. Participants will learn how to gather and analyze relevant data, interpret findings, and derive actionable insights to inform business strategies and tactics.

Objective

• Identify and understand your true competitors in the market.
• Assess competitors’ current and potential market strategies.
• Develop effective corporate and business-level strategic plans.
• Apply various competitor analysis techniques effectively.
• Produce comprehensive and insightful competitor analyses.
• Profile direct competitors based on markets served, strengths and weaknesses, positioning, product offerings, pricing, promotion, distribution, and financial performance.
• Transform competitor analysis insights into actionable business intelligence for informed decision-making.