Competitor analysis template is a sample analysis document that shows the competitor analysis process, competitor analysis tools for assessing the strength and weakness of the current and potential competitors. A well defined competitor analysis sample can help business and organizations to maintain and improve their competitive advantages.
Competitor Analysis Layout Basic
Competitor analysis need to understand the current strategy of the competitors. In the process of performing competitor analysis, the first step is to know the industry, the industry scope and nature of the industry and define your current main competitors. After you have identify the main competitor, the next step is to know the current strategy. The two main sources of information about a competitor’s strategy can be obtained from various information such as their website, the industry journals, the industry reports etc.
Competitor analysis need to take into account the competitor resources and capabilities. After knowing the current strategies of the main competitors, you may ask the question: Can they maintain the current and future strategy? The answer to the question can be obtained from the capabilities of the competitors. A competitor’s capabilities can be analyzed according to its strengths and weaknesses in various functional areas such as the management team, the operation efficiency, the financial aspects etc. You may use swot analysis to understand your competitor better.
Competitor Analysis Template Design
There is analysis template you may download for reference, however, you may develop your sample competitor analysis template based on business needs and requirements using Word or Excel. During the drafting process, it is important to consider the competitor analysis format, competitor analysis layout and competitor analysis outline.
The first key part in the competitor analysis template is the overview. In the section, you may state the competitor analysis purpose and objectives. You may also give a brief description of the industry and trends.
The second key part in the competitor analysis sample is the main part. In the section, you need to give a detail analysis of the key competitors in the industry. You may use different factors to assess the strength, weakness, strategy and future direction of the competitors. For example, the Competitor Strategy:__; Competitor Industry Position:__; The Competitor Future Development and Threats:__ etc.
The last key part in the competitor analysis example is the conclusion and recommendation. In the section, you will give your recommendation and comments about the future strategy and direction of the business, you may state the resources and plans for achieving the results etc.