A competitive analysis is an important factor in our marketing strategy. It is crucial to look at your competitors and examine how they are positioned in the marketplace. It enables you to uncover best practices within the industry and make recommendations for changes for your company based on those findings.
We like to include this as part of our comprehensive marketing plan. To really understand a company we need to examine it in its entirety. We need to know target audiences, current business goals, timeframes, revenue streams, and a budget.