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There are three primary types of competition: direct, indirect, and replacement competitors. Direct competitors are the most recognizable variety of competitors, while the most difficult type to identify can be the replacement competitors.
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.
There are four types of competition in a free market system: perfect competition, monopolistic competition, oligopoly, and monopoly. Under monopolistic competition, many sellers offer differentiated productsproducts that differ slightly but serve similar purposes.
How to Do a Competitive Analysis - 8 Simple Steps Step 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.
How to conduct a competitive analysis in 5 steps Identify your competitors. This sounds straightforward, but in fact there are different kinds of competitors to consider. Gather information about your competitors. Analyze your competitors strengths and weaknesses. Determine your competitive advantage.

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How to do a Competitive Analysis Determine who your competitors are. Determine what products your competitors offer. Research your competitors sales tactics and results. Take a look at your competitors pricing, as well as any perks they offer. Ensure youre meeting competitive shipping costs.
Typically, a competitive analysis report will contain: A description of your businesss target market. Details about the features of your product compared to your competitors products. A breakdown of current and projected market share, sales, and revenues. Comparisons of pricing models.
There are 5 types of competitors: direct, potential, indirect, future, and replacement. Direct competitors are competitors who are directly vying for your customers.
3 Types of Competitors in Business Direct competitors. A direct competitor probably comes to mind when you think of your competition. Indirect competitors. Indirect competitors are businesses in the same category that sell different products or services to solve the same problem. Replacement competitors.
How do you create a cost comparison template in Excel? Choose the goods or services you want to compare. Research the prices of each item charged by the vendors. Enter the cost data into an Excel spreadsheet. Perform calculations to compare the prices of each item. Analyze the data.

competitor analysis spreadsheet