Competitor Analysis Framework: Know Your Competition and Identify Opportunities

Do You Know the 2 Tried-and-True Methods for Improving Your Competitive Position?

A competitor analysis framework provides a structured way to go about researching and understanding the competitive landscape.  For any brand, knowing who the competition is and what they are doing is important. It’s a general good practice to tease out opportunities and stay ahead. 

When Should I Create a Competitor Analysis Framework?

There are several scenarios that might trigger the need for a competitive analysis due-diligence project including:

• Understanding performance on key metrics relative to competitors, e.g., market share, growth, pricing, distribution, marketing spend, etc.
• Identifying portfolio gaps or new product/white space opportunities
• Identifying opportunities to drive greater differentiation and improve profitability
• General strategic planning best practice