Competitor Analysis

Competitor analysis is the process of compiling, classifying, analysing and applying information about your competitors’ products and or services, strategies pertaining to sales and marketing and customer / client service to make pivotal business decisions.

This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment.

Competitor analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough. Instead, many enterprises operate on what is called “informal impressions, conjectures, and intuition gained through the titbits of information about competitors every manager continually receives.” As a result, traditional environmental scanning places many firms at risk of dangerous competitive blind spots due to a lack of robust competitor analysis. By making use of manifold data Risk Richter can convince you as to what your competitor is doing.

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