Top Highlights

• he main objectives of doing competitor analysis can be summarized as: to study the market; to predict and forecast organization’s demand and supply; to formulate strategy; to increase the market share; to study the market trend and pattern; to develop strategy for organizational growth; when the organization is planning for diversification and expa...
• A firm cannot outmaneuver its rivals without monitoring their actions and anticipating what moves they are likely to make next. The strategies rivals are using and the actions they are likely to take next have direct bearing on what a company’s own best strategic moves are, whether it will need to defend against rivals’ actions or whether rivals’ m...
• moving first. Competitor analysis begins with identifying present as well as potential competitors. It portrays an essential appendage to conduct an industry analysis.
• But it is a task worth doing well because the information gives managers more time to prepare countermoves and a chance to beat rivals to the punch by
• Indirect competitors are businesses that are offering products and services that are close substitutes. These competitors are probably targeting the firm’s markets with a same or similar value proposition, but delivering a different product.

Domain