Zippyway

Competitive Analysis

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    Overview

    A competitive analysis is the process of identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to your own business, product, and service. The goal of the competitive analysis is to gather the intelligence necessary to find a line of attack and develop your go-to-market strategy.

    Competitive Analysis in Marketing

    Every brand can benefit from regular competitor analysis. By performing a competitor analysis, you’ll be able to:

    Importance Of Competitive Analysis

    Besides the rationale that the competitive analysis process helps you determine the strengths and weaknesses of the competitors to discover short term and long-term opportunities and threats, conducting a competitive analysis is essential because it helps you:

    Purpose Of Competitive Analysis

    Besides the rationale that the competitive analysis process helps you determine the strengths and weaknesses of the competitors to discover short term and long-term opportunities and threats, conducting a competitive analysis is essential because it helps you:

    Understand Market Conditions Better

    It’s rare when a company competes against just one competitor. Competitor analysis helps you identify all the current and potential direct and indirect competitors, which could hinder your entry or growth within the market.

    Find Untapped Opportunities And Upcoming Threats

    Competitive analysis is the analysis and evaluation of the strengths and weaknesses of the market players. This analysis often results in finding untapped opportunities that can be capitalised on for a short term or long term gain. These opportunities could be the weakness within the –
    • Product development cycle of the competitor(s)
    • Marketing and sales process of the competitor(s) This analysis also results in identifying an upcoming threat in the form of a new competitor or changing market trends.

    Come Up With Better Strategies

    When you know how the market currently works and what’s in the box, it’s easier to think out of the box and come up with more effective and efficient (corporate and competitive) strategies that will provide the business with a distinct advantage.

    Help Develop Competitive Barriers

    A careful analysis of competitors is instrumental in developing barriers which are hard to break. Timely competitor analysis also helps in developing barriers to prevent the entry of new competitors in the market.

    How to do a Competitive Analysis

    Frequently Asked Questions

    Most frequent Questions and Answers

    Yes, Zippyway is an Online Platform serving all over India. Thus, No matter where you doing your business, all you need is Internet Connection on your mobile or desktop and we are ready to get your job done.

    No, You don’t need to be physically present for the process. Zippyway is an Online Catering Platform, all you need is Internet Connection in your device and the required documents with you. We will get the job done even if you are present at the remotest location of India.

    In most of the cases, you will receive the final soft copy of Certificates (or the requisite document) over e-mail and in relevant cases, you will receive the hard copy through the post.

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