What is competitor analysis?
Competitor analysis basically consists of identifying existing or potential competitors, assessing their market position and pinpointing their strengths and weaknesses.
A proper competitor analysis includes the following activities:
- Identifying the company’s competitors.
- Collecting detailed information about competitors.
- Processing and analysing the data
- Defining a competitive positioning matrix according to preset parameters.
- Providing a cross comparison between the competitors’ and the company’s positioning.
Competitor analysis is a key preliminary tool used prior to every business project and should always be performed together with industry specialists.
For over twenty years, MULTI has provided competitor analysis services with the ultimate objective of supporting companies in developing their business.
MULTI’s competitor analysis includes both local and international markets. For each competitor, it identifies its main economic and financial data, product assortment, market positioning and share, sales and distribution channels and main research and innovation activities.
Competitor analysis creates a competitive positioning matrix and compares it to the client’s current positioning, in order to identify any useful actions and tools for reducing the competitor’s strength and enhancing the client’s position.