Michigan Competitor Analysis Worksheet
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How to fill out Competitor Analysis Worksheet?
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Company market strategy eg niche market player, price leader etc. Competing product's overall market share in your main target market. Product sales volume. Threat level estimate the threat level the competing company and product poses to you.
5 Step Market Analysis PlaybookDefine. The first step is to identify all of the key players in your target market.Analyze. Analyze the activities of competitors, customers, etc. to identify commonalities & key characteristics.Trend.Share.Measure.
For each competitor, perform a SWOT Analysis and include the following information:Competitor's Name.Overview of Competitor (where are they located; how long have they been operating)Competitor's Product or Service.Competitor's Pricing.Estimated Market Share.Location(s)Potential Customers (Geographies & Segments)More items...
How to Identify Direct CompetitorsMarket Research. Take a look at the market for your product and evaluate which other companies are selling a product that would compete with yours.Solicit Customer Feedback.Check Online Communities on Social Media or Community Forums.
How to Do a Competitive Analysis - 8 Simple StepsStep 1 - Choose your Top Competitors.Step 2 - Describe Each Competitor.Step 3 - Describe Their Competitive Offering.Step 4 - Summarize Their Online Presence.Step 5 - List Their Strengths.Step 6 - List Their Weaknesses.Step 7 - Identify Your Opportunities.More items...?
There are 5 types of competitors: direct, potential, indirect, future, and replacement.
Here is a step-by-step process for writing a competitor analysis report:Write down your competitors.Write what you know about them already.Discover who their target customers are.Discover their pricing methods.Investigate their marketing strategy.Figure out their competitive advantage.
You can get clues to the existence of competitors from:local business directories.your local Chamber of Commerce.advertising.press reports.exhibitions and trade fairs.questionnaires.searching on the Internet for similar products or services.information provided by customers.More items...
A competitive analysis should examine your competitors' features, market share, pricing, marketing, differentiators, strengths, weaknesses, geography, culture and customer reviews. This article is for new and established small business owners who want to analyze their competition to improve their products or services.
6 Steps to Performing a Competitive AnalysisIdentify competitors. Get the one tech tool your startup really needs2026 for free.Analyze competitors' online presence. Subscribe to our newsletter, Midnight Oil.Check online reviews.Talk to competitors' customers.Identify their strengths and weaknesses.Use research tools.
