What is real analysis

Free competitor analysis tool

1. Identify direct competitors

It is often not that easy to identify direct competitors. Comprehensive market research helps you to find your "direct" competitors.

For a meaningful competition analysis, it is usually sufficient if you include the top 3-7 direct competitors in your competition analysis.

2. Compare offers

Once you have identified the direct competitors, you should now devote yourself to the respective offers of the competitors and carry out an offer comparison. The point is to compare your product or service with the respective competitive offers in order to work out unique selling points or potential for improvement.

In addition to price, performance and quality, other factors are important that you should consider when analyzing the competition.

3. Work out strengths and weaknesses

As the last step in your competitor analysis, you should analyze each competitor in detail yourself. Which corporate strategies do your colleagues pursue, which image does each of the direct competitors have or how flexible are the organization and employees - these are questions that can be important for your competition analysis and relevant for your business model.

In particular for the areas of corporate strategy and marketing, a sound competition analysis is extremely important.

Use the free tool for competitor analysis

You can use our free competition analysis tool to create the competition analysis. One of the advantages of the tool for competitor analysis is that the results are visualized directly in a graph. You can then include this in your business plan. This gives every reader a quick overview of the competition.

To download the competitor analysis tool, simply click on the button below.

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