The competitive analysis is a statement of the business strategy and how it relates to the competition. The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle
Competitors aren’t always a bad thing for businesses because a smart business owners will improve areas their competitors are lagging behind. For example, while your competitors may not always increase the quality of customer support, it become imperative that you increase the quality of your customers and the degree of loyalty toward your business. In the world of business, there will be instances in which a customer leaves you for a competitor, or leaves a competitor for you.
At Sybest, we can help you indemnity areas that your competitors are lagging behind to increase your customer acquisition and increase growth.