What is the format of a competitor analysis?

Competitor analysis is a crucial aspect of any business strategy. It involves evaluating your competitors on various aspects to understand their strengths and weaknesses in comparison to your own business. To conduct a comprehensive competitor analysis, you need to follow a structured format:

• Competitor's Name
• Company Website
• Sales Pitch
• Mission Statement
• Products and/or Services Offering (with Pricing)
• Strengths
• Weaknesses
• Key Differentiators

Over time, continue updating your competitor analysis spreadsheet with more information as you gather data. Select your top competitors, both direct and indirect, and extract information by sending out competitor analysis surveys to your target audience. These surveys help in understanding how customers perceive your business and your competition.

Benefits of a competitor analysis survey

A competitor analysis survey provides actionable insights on customer preferences, purchasing behaviors, and perceptions of competitors. By asking the right questions, you can gauge customer loyalty, understand product/service preferences, and identify key factors influencing purchasing decisions.

Conclusion

Probz.ai is an AI-powered qualitative and quantitative insights collection platform that provides access to over 100 million Indian users. By leveraging the power of AI, businesses can gain valuable insights into consumer trends, preferences, and behaviors to stay ahead of the competition.