Why bother to analyse competitors?
Some businesses think it is best to get on with their own plans and ignore the
competition. Others become obsessed with tracking the actions of competitors (often
using underhand or illegal methods). Many businesses are happy simply to track the
competition, copying their moves and reacting to changes.
Competitor analysis has several important roles in marketing:
• To help management understand their competitive advantages/disadvantages
relative to competitors
• To generate understanding of competitors’ past, present (and most importantly)
• To provide an informed basis to develop strategies to achieve competitive
advantage in t