Why do a competitor analysis then?

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At the same time, even if you aren’t going up against the big names in the industry when you’re starting out as an entrepreneur, there will always be other new entrepreneurs who might be interested in your niche. By staying on top of your competitors’ latest marketing news and decisions, you can ensure that you’re beating your competition before they even have a chance to compete with your business.


To identify new opportunities: by seeing what others do or don't do, you will always be updated and stimulated to do better;
To identify potential threats: competitor analysis, if done periodically, also allows you to identify new arrivals in your niche before they become dangerous;
To find original ideas, perhaps inspired by what others are doing to invent an improved version of your own;
To find your strengths, which you can leverage to exploit your competitors' weaknesses.
competitor analysis why

How to do competitor analysis?
To understand how to do cambodia email list competitor analysis, you must first set up a strategy.

Here's how to do competitor analysis in 3 steps:

Finding Out Who Your Competitors Are
Choosing what to monitor
Identifying the tools to do so
Let's see them one by one:

Find out who your competitors are
First you need to understand which competitors are important to analyze. And at first glance this point may seem simple. If your company is Pepsi, your first competitor is Coca-Cola. If you are Nike, your competitors are Adidas and so on. But these are your direct competitors .

Understanding how to do competitor analysis means understanding who your competitors are . Not just those who sell products similar to yours, but also those who are part of the same market niche , those who satisfy the same needs in a different way.