Competitive

Analysis
Strategies

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 SUPER GUIDE:
Competitive
Analysis
Strategies

BY DANIEL PEREIRA

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 © THE BUSINESS MODEL ANALYST

The Business Model Analyst is a website dedicated to

analyzing business model types, patterns, and innovations
using the business model canvas as its primary tool. The
site offers a wide variety of free and premium content,
including digital products such as PDF tools, presentations,
spreadsheets, ebooks & guides, and much more. Check it
out here.

Daniel Pereira
The Business Model
Analyst Ottawa, ON,
Canada
businessmodelanalyst.com

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Copyright © 2022 Daniel Pereira
All rights reserved.
ISBN: 978-1-998892-45-7

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 TABLE OF CONTENTS
Introduction 12

What Is A Competitive Analysis? 13

Competitive Analysis Example 15

Sony Vs. Nintendo: Not All Fun And Games 15
Determine Who Your Competitors Are 16
Determine What Products Your Competitors Offer 17
Research Your Competitors' Sales Tactics And
Results 17
Take A Look At Your Competitors' Pricing 17
Analyze How Your Competitors Market Their
Products 18
Analyze The Level Of Engagement On Your
Competitor's Content 18
Google 19

Factors Your Competitor Analysis Should Include 20

Feature Matrix 20
Market Share Percentage 21
Pricing 22
Marketing 23
Differentiators 24
Strengths 25
Weaknesses 26
Geography 27
Culture 28
Customer Reviews 30

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Benefits Of Carrying Out A Competitive Analysis 31
Identify Your Business’s Strengths And Weaknesses 32
Understand Your Market 33
Spot Industry Trends 34
Set Benchmarks For Future Growth 35

Competitive Analysis Strategies 37

Swot Analysis 37
Components Of Swot Analysis 38
Strengths 39
Weaknesses 39
Opportunities 40
Threats 40
When Should You Perform A Swot Analysis? 41
How To Do A Swot Analysis 42
Determine Your Objective 42
Gather Resources 43
Compile Ideas 44
Refine Findings 44
Develop The Strategy 45
Benefits Of Swot Analysis 46
A Swot Analysis Makes Complex Problems More
Manageable 46
A Swot Analysis Requires External Consider 47
A Swot Analysis Can Be Applied To Almost Every
Business Question 48
A Swot Analysis Leverages Different Data Sources
48
A Swot Analysis May Not Be Overly Costly To
Prepare 49
Swot Analysis Example 49

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Strategic Group Analysis 51
What Is A Strategic Group 51
Strategic Group Example 52
How To Conduct A Strategic Group Analysis 53
Make A List Of Direct Competitors 53
Distinguish Between Companies On The List 53
Organize The Companies On A Map 54
Evaluate The Data On The Analysis 55
Benefits Of A Strategic Group Analysis 55
Discover New Business Opportunities 56
Learn From Competitors' Mistakes 56
Evaluate The Success Of Competitors 57
Porter's Five Forces 58
Difference Between Porter's Five Forces And Swot
Analysis 58
Who Created The Five Forces Model? 59
What Are Porter's Five Forces? 60
Competitive Rivalry 60
Potential Of New Entrants Into An Industry 61
Power Of Suppliers 63
Power Of Customers 64
Threat Of Substitutes 65
Example Of Porter’s Five Forces 66
Competitive Rivalry 66
Bargaining Power Of Suppliers 66
Bargaining Power Of Customers 66
Threat Of New Entrants 67
Threat Of Substitute Products 67
How To Use Porter's Five Forces Model 67
Perceptual Mapping 68

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Why Do Perceptual Mapping? 70
Insight Into Customers 70
Perceptions Tracking 70
Market Researches On Competitors 71
Brand Repositioning 72
Development Of New Products 72
Who Can Use A Perceptual Map? 73
How To Create A Perceptual Map 74
Pick Your Parameters 74
Define Your Competitors 75
Place Your Competitors 76
Share Your Map 78
Bcg Matrix (Also Called Growth Share Matrix) 79
Understanding A Bcg Growth-Share Matrix 79
Dogs (Or Pets) 79
Cash Cows 80
Stars 81
Question Marks 82
4 Quadrants Of A Bcg Matrix 83
Stars Quadrant 83
Cash Cows Quadrant 84
Dogs Quadrant 85
Question Marks Quadrant 85
Example Of A Bcg Matrix 86
When To Use A Bcg Matrix 87
How To Use The Bcg Matrix 88
Stars 88
Question Marks 88
Cash Cows 89
Dogs 90

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Competitive Strategy And Bcg Matrix Importance 90
How Do You Create A Bcg Matrix? 92
Choose The Product 92
Define The Market 93
Calculate The Relative Market Share 94
Find Out The Market Growth Rate 94
Draw The Circles On A Matrix 95
Limitations Of A Bcg Matrix 96
Marketing Mix / 7 Ps Model 97
The Evolution From 4ps To 7ps 97
When To Use It? 99
How To Use The 7ps Model In Competitive
Analysis 100
Products/Services 100
Price/Fees 101
Place/Access 102
Promotion 103
Physical Evidence 104
Processes 104
People 105

When Should You Do A Competitor Analysis? 107

Starting A Business 107
Launching A New Product Or Service 108
If You’re Considering A Pivot 109
A Stagnating Business 110
Drop In Organic Traffic 111

How To Do A Competitive Analysis? 113

Determine Who Your Competitors Are 113
How To Select Competitors For Analysis 114
Customer (Who) 114
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Problem (What) 115
Product Category (How) 116
Direct Competitors 116
Secondary/Indirect Competitors 117
Substitute Competitors 118
Gather Information About Your Competitors 119
Products 119
Pricing 120
Place 120
Promotion 121
Positioning 122
Reputation 122
People 123
Partnerships 124
Research Your Competitors' Sales Tactics And Results 125
Ensure You're Meeting Competitive Shipping Costs 127
Analyze How Your Competitors Market Their Products 128
Take Note Of Your Competition's Content Strategy 129
Learn What Technology Stack Your Competitors Use 130
Analyze The Level Of Engagement On Your Competitors'
Content 131
Look At Their Social Media Presence, Strategies, And
Go-To Platforms 131
Perform A Swot Analysis 132
Determine Your Competitive Advantage 134

What To Do After Completing A Competitive Analysis 135

Competitive Product Analysis 137

Assess Your Current Product Pricing 137
Compare Key Features 138
Pinpoint Differentiators 139

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Identify Market Gaps 139

Tips For Writing A Better Analysis 141

Use A Template For Professionalism And Organization 141
Implement Visual Aids 142
Proofread Your Competitive Analysis 142

Conclusion 144

References 145

About The Author 148

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 INTRODUCTION
Competitive analysis is an integral tool for modern
businesses in this ever-evolving world. With advances in
technology and increased competition, it is essential for
companies to stay ahead of the curve when it comes to their
market strategies. To do so, organizations must conduct
regular competitor analysis to gain a better understanding of
their rivals’ operations and garner insight into how they
operate in the market.

Through these analyses, companies can uncover areas of

strengths and weaknesses, as well as opportunities or threats
that may arise from new entries or existing competitors. Such
investigations offer insight into potential collaborators that
could result in mutual benefit for both parties involved. This
knowledge enables them to make more informed decisions
when it comes to their offerings and branding campaigns —
providing them with a competitive edge over their peers.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 WHAT IS A COMPETITIVE
ANALYSIS?

A competitive analysis is a key component of any successful

business strategy. It involves conducting an evaluation of the
major players in your industry to get a better understanding
of their products, sales techniques, and promotional
strategies. By doing so, you can gain insight into where there
are opportunities for improvement or growth in your
organization.

It also involves identifying the top competitors in your

industry using market research techniques such as surveys or
reviews. From there, you can begin to analyze each
competitor's strengths and weaknesses and compare them
with yours. This comparison process should cover everything
from pricing structures to customer service initiatives and
product features. You'll also want to look at what promotional
activities each company engages in; this could include
anything from advertising campaigns to email marketing
efforts. Additionally, be sure to investigate how each
company positions itself against its competition; this includes
messaging used in advertisements as well as social media
and website content.

Conducting a competitive market analysis provides invaluable

insights that help organizations become more competitive by
understanding what sets them apart from their competition –
both positively and negatively. Having an informed view of
the competitive landscape helps inform better strategic
decisions involving product development decisions, pricing

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 strategies development, and promotion investments — all
things that will move the needle in terms of sustainable
business growth over time.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 COMPETITIVE ANALYSIS
EXAMPLE

Below are some examples of how competitive analysis can

be used:

Sony vs. Nintendo: Not all fun

and games
It's no secret that Sony and Nintendo are two of the biggest
names in the gaming console market. Both have been around
for decades, but their rivalry dates back to the days of
Nintendo's NES and Sega Master System. Over the years,
each company has released numerous consoles in an
attempt to appeal to a larger audience. However, it appears
that Sony’s recent release of the PlayStation 5 has caused
some turmoil among competitors.

In comparison to Sony’s success with the PS5, Nintendo’s

Switch console, which is now in its fifth year, doesn't appear
to be as successful in terms of overall sales. That being said,
what makes this even more interesting is that while Sony may
be winning out in some areas due to timely releases,
Nintendo continues to maintain healthy sales figures among
teens and children despite not having any major releases
since 2017. This suggests that while they may not be keeping
up with their competition when it comes to new products,
they remain reliable sources for older games and general
entertainment with their flagship console.
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 While much emphasis tends to be put on more modern
releases from both companies, there remains a need for a
balance between maintaining established products and
continuous innovation. While new product launches can often
breathe life into a company’s revenue stream — as Sony has
experienced with PS5 — it is also important for companies
like Nintendo that focus on new digital content releases and
are trying to stay competitive against larger rivals like
Microsoft or Apple, which tend to offer all-encompassing
packages such as programs tailored toward media
consumption or gaming subscription services.

Many companies commonly encounter this situation; some

launch fresh products intended to rival dominant players in
the market, while others seek to ensure that their usual sales
will not sink.

Here’s a quick over for conducting competitive analysis.

Determine who your competitors are

To determine who your competitors are, consider both direct
and indirect competition. Direct competition would include
those companies offering similar products or services that
directly target the same customer base. For our example, in
the market for home video game consoles, Microsoft's Xbox
is a direct rival of both Sony and Nintendo since it competes
within the same industry segment.

Indirect competition would be any company offering different

products or services but targeting the same customers; these
could include companies such as mobile gaming providers or
streaming media service providers that compete for customer
attention and usage in the overall marketplace. It's important
to consider all potential competitors when conducting
competitive analysis so that you can gain a more thorough
understanding of the overall market landscape.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Determine what products your competitors offer
To gain an edge over their competition, Sony and Nintendo
have different product offerings in the gaming console
market. PlayStation offers two versions of their PS5 console
at varying prices, while Nintendo Switch has four console
options. In addition to the consoles themselves, both
companies provide various peripherals for enhanced gaming
experiences — Sony offers VR add-ons, and Nintendo sells a
variety of different gaming controllers, steering wheels, etc.

Both companies also offer different streaming services,

exclusive titles, and online gaming options through their
service subscriptions.

Evaluating these factors in comparison to one another can

help you determine how you can position yourself in the
marketplace and what perks to pursue over competitors.

Research your competitors' sales tactics and results

When comparing the sales approaches of Sony and
Nintendo, the numbers speak for themselves: by September
2021, Nintendo had sold 14.3 million consoles, while Sony
had sold only 7.8 million. This is partly due to the 2020
semiconductor shortage, which caused an "unintentional"
scarcity of the PS5 console. Conversely, Nintendo has
embraced a much broader strategy by focusing its efforts on
families as its primary demographic and introducing the
Switch Lite product line — being cheaper and smaller than its
predecessor, it has become an especially popular choice
among children.

Take a look at your competitors' pricing

Sony's PlayStation 5 (PS5) is more expensive than Nintendo's
highest-priced console. The PS5 retails for $499 compared
with Nintendo's $349 offering. Both systems provide users
with access to a wide selection of digital games and services
that can be quickly downloaded. However, their selling points

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 differ; the Switch is both versatile and portable in its design,
allowing gamers to play at home or on the go. On the other
hand, Sony offers superior graphics and advanced
processing capabilities for those who demand top-notch
visuals from their games.

Analyze how your competitors market their products

There is a distinct contrast between the marketing strategies
of Nintendo and Sony when it comes to their video game
console advertisements. Sony opts for an approach that
illustrates their products' realism by showcasing in-game
footage and emphasizes the exclusivity of their titles through
deals with prominent developers for exclusive access to new
games, as well as existing Intellectual Properties.

On the other hand, Nintendo chooses to take a more

carefree, family-centered route in their campaigns; typically
depicting cheerful families connecting through gaming on
portable Switches or children using portable Switches while
away from home. This strategy spotlights how convenient
and fun Nintendo's products are, emphasizing how they bring
people closer together through interactive play.

Analyze the level of engagement on your competitor's

content
Engagement is essential for increasing sales and building
customer loyalty. A business can measure how engaged its
customers are through a variety of methods, but perhaps one
of the easiest is to use social media. Generally, more
followers imply high engagement levels, which can influence
sales. If we look at an illustration of this dynamic in action,
Sony has a marked advantage over Nintendo: the official
PlayStation Twitter account enjoys 29.5 million followers
compared to Nintendo's 12 million.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Google
Competitive analysis is a crucial tool for businesses operating
in the ever-evolving technology sector. It allows startups to
keep track of rival companies attempting to enter their space
and disrupt the market. At the same time, more established
firms such as Google capitalize on it to stay ahead of their
competitors.

Katie Miller, Program Manager at Google Cloud Developer

Relations Team, explains that utilizing competitive analysis
provides her team with invaluable data on reach,
engagement, and sentiment beyond their channels. Not only
can they measure how their posts perform, but they can also
analyze the broader conversation happening among
consumers. Additionally, automation allows them to quickly
and easily transfer data into internal dashboards, which saves
an incredible amount of time.

This powerful strategy became even more important during

the pandemic, when organizations had to compete for
customers despite a challenging new landscape.

To make the most out of the competitive analysis, businesses

should monitor competitor performance changes quickly,
track pricing in real-time across different markets, build out
detailed buyer personas, and leverage AI tools such as
natural language processing (NLP) to gain deeper insights
into customer conversations and industry trends.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 FACTORS YOUR
COMPETITOR ANALYSIS
SHOULD INCLUDE

Feature matrix
Feature matrix analysis is essential for any competitor
analysis. It involves examining each product or service
offered by competitors to determine what features they
provide and how they compare to one another. A feature
matrix is a great way of visualizing the differences between
products in a side-by-side comparison, allowing businesses
to make more informed decisions about the best fit for their
customer base.

When creating a feature matrix, several factors, such as

feature type, description, and benefits or effects, should be
included. The types can vary depending on the product or
service being compared. Still, they may include usability or
convenience factor, pricing, customization options, security,
and privacy policies, support services, user experience (UX)
design, platforms/devices supported, speed/bandwidth
reliability, data storage availability, etc.

The description should concisely define each feature, giving

concrete details on what it does while covering any required
technical jargon that customers might not understand outside
your market. The benefits section will explain why those
particular features are advantageous to potential customers
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 to help them make an informed decision when choosing
between competing offerings.

In addition to listing out all available features of competitors’

products/services, business owners should also include other
criteria in their feature matrix analyzes, such as reviews from
current users of each product/service offering and customer
support options like online chat rooms or phone numbers
listed on company websites where someone can address
inquiries quickly. Including this information gives a
comprehensive view of the competitive landscape so that
business leaders can make tailored choices regarding their
offerings without resorting to guessing games or broad
generalizations about different services' capabilities based on
limited resources.

In essence, feature matrix analysis allows companies to

accurately determine which features are most important for
their target market so that they can invest appropriately in
those areas while avoiding costly overspending on
unnecessary bells and whistles that won't add much value for
consumers long term — making it an invaluable tool for
staying ahead of rival competitors in today's highly
competitive markets!

Market share percentage

Market share percentage is an essential factor to include in
your competitor analysis because it can provide valuable
insights into the competitive landscape of your industry. By
looking at each company's market share percentage, you will
be able to see which competitors are dominating the market
and which ones are struggling. This can help you identify
potential threats from leading competitors, as well as
opportunities for growth from smaller players in the market.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 You should also use this data to gauge competition within
your sector by comparing the percentages each competitor
holds. For example, if one company dominates 80 percent of
the total market share, then there may not be much room for
other companies left to compete against them. Knowing this
information can help you better evaluate how well-positioned
you are against fierce competition.

Also, rather than completely ignoring your larger competitors,

take the time to learn from them. The 80/20 rule is an
effective way to do this; focus 80% of your attention on
companies with comparable market shares and 20% of your
attention on top competitors. This will help you better
understand how they are succeeding in your industry, while
also allowing you to remain competitive.

Pricing
It is essential to be aware of the prices that your competitors
are offering for their products and services, as well as how
those products and services compare in terms of quantity and
quality. To effectively assess competitive pricing, companies
should look at not only each individual item's price, but also
the aggregate price point for an entire purchase.

First, identify your competitors’ prices for their respective

products or services. Consider not only the list price of each
item, but also any special offers that may impact the purchase
cost, such as discounts or bundles. Compare these prices to
those of other markets, both within and outside your industry,
to get an overall sense of how competitively priced your
competitors' offerings are. You should pay close attention to
changes in pricing over time; if certain competitors have
experienced drastic price increases recently or consistently
hold higher rates than most others, this could be an indication
that the quality of the offering is superior.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 In addition to typical price discrepancies among different
market segments, look out for pricing differences based on
customer type. Are there particular loyalty programs,
subscription options, or membership deals associated with
discounted rates? How do these compare to standard
packaged solutions? Knowing who has access to what can
help you better target potential buyers by offering them more
attractive packages tailored specifically to their needs.

Finally, study how your competitors choose to display their

prices and gauge how much thought they put into making it
accessible and understandable for customers. Suppose some
companies feature multiple tiers with detailed educational
information, while others just present a single figure without
explanation. In that case, it might signal that they prioritize
customer experience differently from one another —
something you should take into consideration before
formulating a plan for competing in the space yourself.

Effective competitor analysis requires scrutinizing pricing

trends and systems across various markets to discern where
each one stands in terms of quality versus quantity, as well as
customer value perception. Taking all factors into account will
give you a stronger insight into which strategies would best
suit your business model and ensure that you have all the
necessary information before taking action in this critical
aspect of company operations.

Marketing
Many organizations focus heavily on price, product, and
service comparisons, but it's important to consider the bigger
picture of each competitor’s marketing plan.

When researching competitors' marketing plans, factors such

as their online presence should be taken into account. You

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 need to visit competitors’ websites and explore the look and
feel of the sites, the navigation design, and the content
provided. You can further your research by looking at what
sort of language they use in their website copy, whether they
are optimizing for SEO or making use of social media
platforms like Facebook, Twitter, or Instagram.

Another factor to consider is how effective competitors’

promotional campaigns have been so far. For example,
suppose they have sponsored events or released press
releases recently. In that case, these efforts may be worth
noting to gauge how successful these activities were
compared to your marketing mix. Additionally, you should
analyze any taglines used by your competition as well as any
current advertising messages that are being shared widely
through different channels; this will help you get an
understanding of the brand positioning of each competitor in
relation to yours.

Differentiators
Differentiators help to identify what makes your competitors
unique and how their offerings differ from yours.
Differentiators can range from tangible competitive
advantages like cost and product quality to intangible
competitive advantages like customer service or brand
recognition.

An effective way to evaluate a competitor’s differentiators is

by analyzing what they advertise as their best qualities. This
type of information can usually be found on a company’s
website, printed materials, and advertising campaigns. Take
time to compare these attributes with your own company's
differentiators. Are you offering something better than them?
Something worse? Also, consider any other potential
differentiators that may not have been highlighted in their

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 materials, such as industry experience or rich feature sets in
their products or services.

It is also useful to understand why customers choose to

purchase from a competitor instead of you. Understanding
the reasons why customers choose one store over another
can provide valuable insights into where your competitors are
succeeding and what areas you need improvement in. Ask
yourself questions: Is it price, location convenience, product
selection, or customer service? Knowing how customers view
each competitor side-by-side will help you objectively assess
where opportunities for improvement lie within your
organization.

Look at the overall context in which each competitor exists —

their mission statement and values, target market
demographics, etc. — and how that compares to yours.
Understanding these key details about each competing
business will allow you to recognize exactly how they
approach the market differently than you do so that you can
better determine why customers may be gravitating toward
them rather than yourself.

Strengths
It is beneficial to analyze how your competitors are
performing in the market so that you can use their successes
as a model for your strategies. By taking the time to study
what they have done right, you can learn how best to
differentiate yourself and gain an advantage in the same
market. There are several factors to consider when analyzing
your competitors’ strengths:

Product Quality: Do online reviews, consumer feedback, or

sales figures suggest that your competitors have a superior
product? Are they offering more features, higher quality

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 materials, or better performance than you? If so, is there
something you can do to match or surpass this level of
quality?

Brand awareness and recognition: Do customers already

associate certain brands with a particular product category?
Ask customers about their perceptions of each brand - what
brands come to mind when they think about buying in your
sector? You could also look into industry awards — did any of
your competitors win recognition from trade organizations or
consumer groups recently?

Testing Competitor Products: It’s useful where possible to

test out competing products yourself. This could give insight
into areas where another brand may be performing better —
whether it’s a more user-friendly design interface, faster
delivery times, or additional services such as warranties and
return policies included at no extra cost. Seeing the product
first-hand can provide qualitative data on why customers
might be flocking toward one particular brand over another.

Weaknesses
What could each competitor be doing differently that would
give you an edge over them?

A comprehensive analysis should start by evaluating each

competitor's online presence: Is their website outdated? Do
they lack an online store? Are they lagging in terms of social
media marketing? By asking yourself these questions, you
can begin to assess where they may be falling behind and
how to fill those gaps with your own strategy.

For example, suppose one of your competitors has a weak

social media strategy or is failing to effectively use popular
platforms. In that case, this could be an opportunity for you to

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 increase engagement with your target audience and
showcase your product or service in ways that your
competitor isn’t able to do. Additionally, suppose another
competitor does not have an established online store that
allows customers to purchase items directly from the website.
In that case, this could be another opening that you can take
advantage of. Implementing easy payment options on your
website will make it easier for customers to buy products
from you instead of taking extra steps elsewhere.

Geography
Geography is another important factor to consider when
analyzing your competitors. The location of their business
operations can provide insight into how they interact with
customers, as well as market trends in different regions.
Geographic analysis can also be beneficial for understanding
the customer base and target markets, since that often varies
by region. Comparing not only the countries or cities where
competitors are located, but also the states or provinces
helps you get a more complete picture.

Companies with brick-and-mortar locations may have a large

presence in certain regions, but limited reach elsewhere. This
type of business needs to take local laws and regulations into
account, including things like licensing or zoning restrictions
and tax implications. You should also consider customer
preferences in different parts of the country or world; certain
product types may be extremely popular in one area while
never quite catching on elsewhere.

On the other hand, businesses that primarily operate online

will typically have access to a much larger market share than
those relying on physical stores alone. An analysis from this
perspective should consider retail analytics such as
conversion rates and average order values across different

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 regional markets. Consider which areas customers come
from more frequently (which may be indicative of high
demand) and compare traffic generation tactics employed by
competing sites — e-commerce websites often use
promotional offers unique to each region to drive sales and
generate repeat customers from all over the world.

Cultural factors are another key component when looking at

geographic factors, your competitor analysis should consider;
understanding regional customs can help you better relate to
consumers who live there and boost trust among potential
buyers worldwide. Analyze cultural nuances between
countries related to topics such as social media engagement
styles or website design conventions so that you can
understand how your competitors are leveraging these
differences for their benefit — both online and offline!
Knowing the underlying quirks behind consumer behavior
within different regions can give you an advantage over your
competition’s marketing efforts if you’re able to make
appropriate use of them yourself.

Culture
When evaluating your competitors, it is important to look at
their company culture to gain an understanding of how they
view the world and operate their business. Company culture
can be broken down into four main areas: objectives,
employee satisfaction, environment, and history.

Objectives: The first thing that should be reviewed when

analyzing a competitor’s culture is its objectives.
Understanding what a competitor's goals are will help you
identify potential opportunities or threats and better
understand what strategies may be employed against you.
Additionally, examining any long-term strategies or initiatives
the company has planned will give you a better idea of where

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 they intend to go in the industry.

Employee Satisfaction: Employee reviews provide a great

insight into the overall atmosphere within a certain
organization and can indicate whether employees feel
empowered or frustrated in their roles. It is often helpful to
read through these reviews, as they provide valuable
feedback regarding morale levels, as well as an
understanding of any existing issues that could impede
progress within the firm.

Read reviews provided by current and ex-employees across

multiple platforms (e.g., Glassdoor) to not just gain information
on employee satisfaction but also get feedback on working
styles, managerial transparency, and so forth that reveal how
companies operate internally. Taking note of any attractive
benefits offered by competitors could also give you an
advantage should you wish to make changes to your
business model to remain competitive.

Environment: Examining close competitors' work

environments is important when assessing their overall
cultural identity. Are there perks, such as flexible working
hours? Do employees have access to outdoor recreation
activities during breaks? All these small details add up to
create an overarching vibe that can influence customer
loyalty and perceptions depending on how it is portrayed
externally — this makes it key for businesses wishing to
succeed in today's marketplace, where competition remains
fierce across all industries worldwide.

History: Finally, looking back at a competitor’s history can

give you invaluable insights into how successful companies
have adapted over time according to changes in trends and
consumer demand shifts. Does the business focus heavily on
innovation, or do they stick with traditional marketing
techniques? Studying past successes can enable your

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 organization to adapt accordingly so as not to lose out on
current opportunities available within today’s commercial
landscape throughout different sectors globally — examine
both longer-term traditions alongside more recently adopted
practices for further analysis specifics!

Customer reviews
Customer reviews provide insights into what customers think
of the product or service your competitors offer and are often
an invaluable source of information. They can help you
uncover any issues with the competitor’s offering that may
have gone unnoticed otherwise, and provide valuable
insights into how well your competitor is doing in terms of
meeting customer expectations.

When analyzing customer reviews, it is important to look at

both positive and negative ones from all levels on a 5-star
system. 5-Star reviews are great to see, as they show that
customers are delighted with the products or services offered
by your competitors. However, 3-star reviews tend to be more
honest as these represent customers who have experienced
both good and bad aspects but felt overall neutral about their
experience. 1-Star ratings should also not be ignored, as they
highlight issues that need to be addressed by your
competitors if they want to maintain loyal customers and
increase their overall satisfaction rating.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 BENEFITS OF CARRYING
OUT A COMPETITIVE
ANALYSIS

Oftentimes, small business owners can become

overburdened by the many responsibilities they have to
tackle. Despite having limited time, it is still valuable for them
to invest some of it in analyzing their competition. There are
various reasons why this should be done, such as:

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Identify your business’s
strengths and weaknesses
By looking at your competitors’ products, services, prices,
marketing strategies, customer service policies, and more,
you can get a clearer picture of what sets your company
apart from them. You will also be able to see which areas
need improvement within your own business model. With this
information in hand, you can better position yourself in the
market by targeting certain aspects — those that make you
stand out from the competition — for promotion or further
development.

Carrying out a competitive analysis also provides valuable

insight into customer opinions about both your competitors
and your own business. This lets you know what customers
think is most important when evaluating potential purchases
or services. Knowing how they compare features among
companies helps you focus on those elements that are likely
to drive direct sales growth, while minimizing investments in
areas with little return on investment (ROI).

Taking a closer look at who your competition is can also

provide invaluable insight into their tactics. Observing their
decisions and strategies reveals their approach to pricing
models, distribution channels, promotional activities, key
partnerships, and much more. Get inside their strategy
playbook so that you can anticipate their next move before
it’s already taken place. That way, you have time to build up
resources or protect yourself against threats posed by
competitors ahead of any actual execution.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Understand your market
Carrying out a competitive analysis can help you:

Identify Your Competitors: A key benefit of conducting a

competitive analysis is that it helps you identify who your
competitors are, analyze their strengths and weaknesses, and
better understand how they operate in the market. Knowing
who your competition is will allow you to build strategies to
differentiate yourself from them, as well as provide ideas for
product lines and marketing campaigns.

Analyze Their Strategies: Conducting competitor research

allows your organization to understand the strategies being
used by other companies in the market, giving you a better
understanding of what works and what does not work in
terms of customer engagement and brand awareness.
Knowing these details will enable your company to position
itself more effectively compared to its competitors.

Monitor Positioning Changes: Continually monitoring

competitor positioning changes allows companies to stay
ahead of their competition by capitalizing on any shifts or
changes that may have gone unnoticed before now; this
could include new product offerings or pricing structures
designed specifically for gaining traction within the target
audience or market segmentation opportunities that have
been created by those same competitors previously unaware
of them.

Uncover New Opportunities: A thorough assessment may

provide insights into areas where customers feel
underserved by current offerings available; this could be an
indicator that there’s potential to expand services or create
new products/services based on unmet customer needs,
which can offer real potential for growth within the

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 marketplace at large. This kind of insight gives an
organization information it might not have had access to
otherwise, allowing strategic partners like marketing and
sales teams to collaborate around “white space” to create
unique propositions that could give an organization a clear
point of difference versus its rivals going after traditional
markets or segments.

Enhance Customer Retention: While researching

competitors provides insight into what others are doing in
terms of targeting specific customers with certain offers, it
also gives organizations scope for developing tailored
customer retention initiatives based on feedback received
during competitor research activities such as interviews with
relevant personas. Such insights can provide invaluable data
about customer pain points, preferences, and expectations
around service levels, all of which feed into ensuring existing
customers remain loyal over time, thus maximizing
profitability.

Spot industry trends

Competitive analysis enables you to identify trends and
understand where your competitors are heading, what
strategies they are using, and how the market is changing
over time. By performing this type of analysis regularly, you'll
be able to spot industry trends that could alter how you
approach new customer acquisition or the products or
services you offer.

For instance, if you identify a trend towards increased

competition in your industry, it might be wise to plan ahead
and create new products that fill customer needs not met by
competitors. You can also use competitive analysis to
uncover current pricing patterns so that you can make
informed decisions about setting competitive prices for your

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 own services or products. And if there's evidence of declining
sales in certain sectors, it may be wise to invest more in
marketing activities targeting customers outside those
markets.

Additionally, carrying out a competitive analysis can help you

gain insight into market dynamics, such as emerging
technologies and customer demands. This knowledge will
give you an edge when it comes to designing better-targeted
campaigns or optimizing product features based on customer
feedback. With all of this in mind, conducting regular
competitor analysis allows businesses to stay one step ahead
of changes that can drastically impact their bottom line — and
spot industry trends before they become widespread enough
to affect the entire sector.

Set benchmarks for future

growth
Setting benchmarks for future growth is one of the key
benefits of carrying out a competitive analysis. By studying
both established companies in your industry and new
entrants into the market, you can gain valuable insights into
what success looks like in your industry.

Established companies provide a model of what works: from

which markets they target to how they position themselves in
their sector, while new entrants offer an indication of
up-and-coming trends that you may need to watch out for. As
such, by studying your competition's operations, performance
metrics (e.g., sales figures), and marketing strategies, among
other things, you can set achievable targets or benchmarks
against which to measure whether your own business has
improved over time or if it needs further work going forward.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Knowing where other businesses at various stages are
succeeding or underperforming gives you a better
perspective on where you should focus some energy — be it
on market penetration strategy or investing more resources
in product development, expanding digitally, or entering new
physical markets — as well as indicating potential
opportunities within your field that have not yet been fully
exploited. Taking note of successes (as well as failures)
amongst similar corporations can save time and money when
drawing up plans for future growth, since there’s no need to
reinvent the wheel every time something needs improving or
testing out; there are models out there that can be used as
references when deciding on company direction.

Carrying out regular competitor reviews allows businesses to

keep abreast of rivals’ activities across different areas,
including marketing campaigns, pricing movements,
customer service improvements implemented, product
updates launched, etc., setting standards for improvement
that help direct internal efforts towards process optimization
— ultimately leading to increased efficiencies and cost
savings.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 COMPETITIVE ANALYSIS
STRATEGIES

Before settling on the appropriate strategy to use in your

competitive analysis, you must clearly understand what you
would like to learn and any pre-existing theories. This will
guarantee that the methods chosen are suitable for
determining what information you need. Moreover, different
approaches each bring their own benefits.

These are some of the best strategies, to begin with:

SWOT Analysis
SWOT (Strengths, Weaknesses, Opportunities, and Threats)
analysis is a strategic planning tool used by companies to
evaluate their competitive position in the market. Using this
framework, a company can assess different elements of its
internal and external environment and better understand the
potential risks associated with any changes or challenges it
may face.

The SWOT analysis process starts by identifying a company's

strengths — things that give it an advantage over its
competitors, such as quality products, strong brand
recognition, or loyal customers. Next, weaknesses are
identified - areas where businesses can be vulnerable, such
as due to poor customer service or a lack of resources.
Thirdly, opportunities are assessed that could help
businesses grow in the future through new markets or

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 partnerships. And lastly, threats are considered, which could
impact a business negatively, such as increasing competition
or technological advancements that could disrupt the
industry.

By clarifying these elements with accurate facts and

data-driven information, companies can more accurately
identify their competitive position compared to rival firms and
form effective strategies for success going forward. While
SWOT analysis provides valuable insight into an
organization's performance and rivals’ strategies, it should not
be seen as a prescription, but instead used as a guide to
shape decisions about future ground plans or tactics.

Components of SWOT Analysis

A SWOT analysis cannot be considered thorough without
these four essential components; however, the actual findings
within them will vary depending on the company. All these
components must be included for the exercise to be
considered complete.

Strengths
Strengths are an integral part of a SWOT analysis and relate

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 to the internal aspects of a business. Strengths refer to
factors that a business does well in comparison to its
competition — characteristics that give it an advantage, such
as superior skills, resources, or capabilities. These could
include such things as financial security from having access
to large amounts of capital or having loyal customers with
high levels of repeat business.

Strengths also help companies identify potential

opportunities for further growth, as they allow organizations
to recognize their areas of expertise and focus on exploiting
those strengths for a competitive advantage. Examples might
be strong brand recognition, a broad customer base, or a
unique technology that can provide the basis for developing
new products and services that customers want or need.

Weaknesses
Weaknesses in SWOT analysis refer to internal factors that
impede the company's ability to achieve success. These are
areas of the business that need improvement for the firm to
be competitive and successful, such as weaknesses in brand
identity, high employee turnover rates, too much debt, an
insufficient supply chain, or low levels of capital investment.

Weaknesses can often be seen more easily from an

outsider's perspective than from those within the organization
itself. Identifying weaknesses will give the organization an
opportunity to address these issues and improve them so
that they no longer hinder their operations or ultimate
success. Taking action on these identified weaknesses is
important because it may offer a competitive advantage over
organizations that have not addressed them yet.

Opportunities
Opportunities refer to external factors that present an
organization with the opportunity of achieving a competitive
advantage. Examples of opportunities that an organization

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 can utilize include changes in governmental regulations,
emerging markets, customer needs, and technological
advancements.

A SWOT analysis is used to assess such opportunities and

how they can contribute to the profitability, performance,
sustainability, and competitiveness of an organization. By
identifying these opportunities, organizations can identify
their strengths and weaknesses while creating strategies to
capitalize on them and increase their performance.

Threats
Threats refer to external factors that could possibly affect the
goals of an organization negatively. They can be either
short-term or long-term, and they must be identified before
strategies can be implemented to mitigate them.

Common threats include natural disasters, economic events

such as rising costs for materials and increased competition,
changes in customer preferences, new government
regulations, technological disruption, and so on.
Organizations must identify these potential threats as early as
possible to take appropriate action and minimize their impact.
Companies should also assess the likelihood of a threat
occurring, along with its potential effect on the business if it
does take place.

A thorough SWOT analysis allows companies to proactively

monitor changes in the market landscape, identify emerging
trends, and develop plans accordingly to protect their
operations from harm caused by external threats.

When should you perform a SWOT analysis?

When it comes to the timing of your SWOT analysis, there are
a few different scenarios when you should consider
performing one. The first is when you want to make an
informed decision about a business action, whether that be

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 adding a new product or revamping your internal policies. A
SWOT analysis will give you insight into how this move would
impact each area of your business — its strengths and
weaknesses, as well as the opportunities and threats in the
market.

Another time when it's wise to perform a SWOT analysis is at

designated intervals throughout the year. While businesses
can change quickly over time, having scheduled intervals
where you assess your organization’s current state ensures
that major changes don't slip through the cracks. Consider
evaluating every quarter or even every month if necessary —
this way, you're always up-to-date with what's going on in
your company and can adjust accordingly.

Additionally, anytime there is significant change within the

company or industry, either from external sources or those
within the organization itself, it's important to review
operations via a SWOT review so that any possible
repercussions of such changes can be identified early on
mitigated before more serious damage occurs. When
restructuring teams, for instance, use SWOT charts to
accurately evaluate potential outcomes for both success and
failure so that risks are known ahead of time, and team
members understand their expectations fully before
committing themselves completely to these changes.

Finally, anytime new ideas are brought forward — particularly

ideas outside of core offerings — they must be evaluated
through a detailed process involving several different
viewpoints in order to ensure they have long-term benefits
for both customers and revenue streams alike. Performing a
thorough SWOT analysis with key stakeholders involved
should help gain buy-in and create consensus on whether
this new idea should be pursued and implemented or nixed
entirely due to its lack of fit with existing strategy or
profitability goals.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 How to Do a SWOT Analysis
A SWOT analysis requires examining strengths, weaknesses,
opportunities, and threats, and then creating actionable steps
derived from the findings. The overall process can be
summarized as follows:

Determine Your Objective

Determining an objective is the first step to a successful
SWOT analysis. With a target goal in mind, it will be easier to
focus your efforts and give more meaning to the exercise
results. Without an objective, you may find yourself creating
multiple documents while failing to identify any actionable
items that can help your business succeed.

When beginning a SWOT analysis, it is important for

managers and stakeholders alike to consider what their
ultimate goals are. Start by considering what you want your
analysis results to accomplish or answer — such as whether
launching a new product is viable and feasible or not, or how
you can capitalize on certain strengths relative to
competitors. It can also be helpful to consider external factors
like industry trends and economic changes that might impact
your decisions before establishing an objective for the SWOT
analysis.

Once all of these considerations have been taken into

account, create a specific statement that defines what this
analysis will do for your organization: answer questions about
potential new projects or strategies; form ideas about current
tactics; inform decision-making processes; provide clarity
surrounding resources; etcetera. This will ensure everyone
involved is looking at the same objective/goal when
examining and interpreting data gained through research
conducted during the SWOT process.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Gather Resources
Resources can refer to both data and personnel, which
should be identified prior to the beginning of the analysis. A
comprehensive list should be compiled that includes all
sources and types of resources necessary for a successful
process.

Data Sources: The primary output from a SWOT analysis

relies heavily on reliable internal and external data sources,
such as financial statements, industry reports, customer
surveys, competitor research, etc. Developing an
understanding of exactly what information will be needed is
important to identify any gaps and prioritize the collection of
appropriate data sets.

Personnel: Depending on the size and complexity of the firm

internally, it may also be beneficial to include multiple
perspectives during a SWOT analysis through designated
personnel in various roles who have expertise within their
respective fields. This usually includes sales staff,
manufacturing staff, engineers/technicians, or consultants
with better insights into internal operations. Involving these
individuals ensures more diverse contributions are made
towards identifying potential opportunities or threats within
each area being analyzed.

Prioritization: Once data sources have been established, and

sufficient personnel has been identified for involvement in the
process according to their respective roles within the
company or organization, priority must then be placed on
gathering information for use in forming a complete picture of
key areas related to strengths, weaknesses, opportunities, or
threats (SWOT). Careful consideration needs to be taken into
account when prioritizing this step — timing is especially
important if there are deadlines set by stakeholders or
governing bodies involved with decision-making based on
findings obtained from the SWOT analysis itself.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Compile Ideas
Here, the group assigned to carry out the SWOT analysis
should make a list of items for each of its four components.
Examples of questions asked could include, "What are we
doing well?" (Strengths) or what trends are evident in the
market? (Opportunity).

Doing this as a "whiteboard" or "sticky note" session can be

an effective prompt for ideas and encourage creativity and
inspiration from all participants. There is no right or wrong
answer for this section, as all items listed can be evaluated
later on to determine their usefulness. The goal should
involve coming up with as many possible items as possible to
have an extensive list across all categories.

Refine Findings
This step involves taking the ideas and information gathered
from the previous steps and focusing on only the most
relevant or pressing ones to focus on. This requires
discussion and debate among analysis participants and may
bring in upper management to help rank priorities for focus.
The goal of this stage is to identify which issues or
opportunities need to be addressed first that will have the
greatest effect on helping reach the desired outcome. During
this process, it’s important to remain focused on long-term
goals rather than short-term wins so that strategies can be
aligned accordingly.

The group can start by sorting each idea into one of three
categories: leverageable strengths/opportunities, critical
weaknesses/threats, or negligible points (those with minimal
impact). This process should also identify any key differences
between how internal stakeholders feel about an issue and
how external stakeholders, such as customers/clients or
other industry experts, feel about it. Once these different
perspectives are identified, it helps with understanding

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 whether certain elements of the plan may require additional
research before further action can be taken.

After each item has been sorted into categories, those

involving leverageable strengths/opportunities should then
receive more detailed attention. At the same time, critical
weaknesses/threats should be dealt with immediately if
possible — otherwise, they should receive priority attention
when creating strategies associated with this SWOT analysis.
Finally, any negligible points should be documented as
actions that may happen eventually but would not need
immediate attention.

Develop the Strategy

Developing the strategy involves synthesizing the information
collected in the SWOT analysis and developing a plan of
action based on it. Team members take all the strengths,
weaknesses, opportunities, and threats they identified during
their assessment and brainstorm ways to address each one
to form a strategic plan. They review each item in light of the
company’s original objective — deciding whether to release a
new product or not — and use that goal as the guiding light
for their strategy.

For example, if one determined strength were that the

company is already popular within its existing markets, team
members would discuss strategies for capitalizing on that
popularity by expanding into new markets (e.g., launching
campaigns specific to those areas). If weaknesses include
increased material costs and straining distribution lines, then
strategies may include finding more cost-effective suppliers
who can provide better delivery times and stability.

If there is an opportunity to expand outside current markets

identified during the SWOT analysis process, team members
will develop plans for how to best serve those potential
customers — perhaps through special discounts or

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 promotions aimed at enticing them into trying out your
product. Suppose potential threats such as unpredictable
product demand were detected during the assessment
process. In that case, members might devise strategies
designed to increase customer engagement with existing
products as well as any new ones released into
marketplaces.

Ultimately, team members create both long-term goals

designed to help meet organizational objectives, as well as
short-term action plans that can be implemented right away
to ensure progress towards those objectives is being made
over time.

Benefits of SWOT Analysis

Although a SWOT analysis cannot answer every problem that
a company deals with, it can offer a range of advantages that
may make strategizing easier.

A SWOT analysis makes complex problems more manageable

The primary benefit of a SWOT analysis is that it offers a more
manageable approach by breaking large problems down into
smaller ones. For example, if one were considering entering
into a new business venture, one would need to consider
multiple factors such as market size, competition level, and
potential profits. With the SWOT analysis, each component
can be looked at separately so that potential repercussions
from any number of angles can be evaluated efficiently and
effectively.

By simplifying the data into strengths, weaknesses,

opportunities, and threats — areas of hope or concern — one
can see how various components might affect the decision
while also understanding what other considerations need to
go into affecting change or creating growth. Each area on its
own will provide insight, as well as draw attention to whatever
needs further investigation or clarification to make an

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 informed position. Together, they help paint a picture of what
must be done in order to solve any issues or capitalize on any
given opportunities without becoming overrun with
information.

A SWOT analysis requires external consider

A SWOT analysis forces a company to think beyond its
immediate environment and consider larger trends or events
that may affect its decisions or operations. For example, if an
organization were deciding whether to invest in new
technology or not, examining opportunities from advances in
technology would be beneficial while also investigating
potential threats, such as changes in regulations related to
data privacy.

By implementing a thorough SWOT analysis when making

strategic business decisions, companies can become better
prepared for obstacles they may face due to external
influences. This can help them create proactive plans for
dealing with potential issues so that they don't feel caught off
guard if something unexpected occurs outside their realm of
influence. Additionally, analyzing external variables like
political policies or industry trends can help organizations
identify potential market opportunities they might have
otherwise overlooked due to a lack of awareness or
resources.

A SWOT analysis can be applied to almost every business

question
The great thing about a SWOT analysis is that it can be
applied to almost every business question or concern. In
other words, it can analyze anything from an individual's
career aspirations to a full product line, changes in brand
strategy, or geographical expansion plans — basically,
anything relating to your organization’s competitiveness in
the marketplace — from a small microcosmic level up to large
macrocosmic levels. The goal of analyzing these items

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 through a SWOT Analysis is for you to gain insights into their
risks and rewards so that you can make more informed
decisions about how best to move forward in order for your
organization as well as individual team members/employees
to achieve maximum success.

Since this type of analysis looks at both internal (e.g.,

resources) & external (e.g., competition) aspects that impact
strategizing & decision-making processes, this makes this
technique even more useful because not only do
organizations have a better understanding of their situation,
but they are also able to capitalize on the beneficial aspects
while working towards reducing any negative ones through
subsequent action plans which should eventually bring
desired outcomes in terms of achieving overall organizational
objectives & goals set out by higher management hierarchy,
etc.

A SWOT analysis leverages different data sources

Leveraging different data sources in a SWOT analysis allows
businesses to gain insights into their competitive landscape,
customer base, and more.
The use of multiple data sources helps to reduce bias when
conducting a SWOT analysis, since it provides an overall view
of the organization within its given environment. Companies
typically utilize internal information to identify strengths and
weaknesses related to the resources available within their
control, such as assets or capabilities. To get an idea of
external forces at play (opportunities or threats), companies
must look outside their own walls for broader markets,
competitors’ strategies, economic conditions, etc. That being
said, this can offer a more well-rounded assessment than
focusing solely on one source within the organization that
may potentially be biased due to personal beliefs or interests.

A SWOT analysis may not be overly costly to prepare

Depending on the complexity of the SWOT report and the

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 amount of detail required, this type of analysis can typically
be completed with little outside assistance or consulting. In
addition, many different staff members within an organization
may be able to contribute to its preparation without any
additional training or external consultation due to its simple
framework and straightforward language.

It also allows organizations to quickly pinpoint improvement

opportunities without developing lengthy reports and
detailed documents, which require many resources. By
providing an easy-to-read snapshot into the current situation
(which identifies potential areas for growth), companies can
utilize these findings within their everyday decision-making
processes to optimize performance and efficiently maximize
profits.

SWOT Analysis Example

In 2015, the Value Line SWOT analysis of The Coca-Cola
Company provided an overview of its strengths, weaknesses,
opportunities, and threats. This approach highlighted the
well-known brand name, an efficient distribution network, and
emerging global markets as its main advantages.
Weaknesses pointed to foreign currency fluctuations and
competition from healthy beverage providers, while threats
included a growing public interest in "healthy" drinks.

Although it seemed daunting after conducting the SWOT

assessment at that time, Value Line predicted that Coca-Cola
would stay a leading provider with reliable dividends and
capital development for stockholders. Over the last eight
years, these predictions have been proven correct; presently,
KO (Coca-Cola) shares are worth more than 60% more than
prior to completing the SWOT analysis, while Coca-Cola
continues to hold 6th place globally as one of the world's
most influential brands.

To demonstrate how vital this type of strategic review can be

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 for any organization, consider a hypothetical organic
smoothie business that underwent a SWOT examination to
recognize its performance vis-à-vis competing firms in their
respective industries. It was found that their most important
qualities lay in good resource management for ingredients,
personal customer service, and effective supplier
connections. At the same time, shortcomings arose from poor
product diversification, high staff turnover, and outdated
hardware.

Furthermore, they saw opportunities presented by advancing

technology along with increased enthusiasm for
health-oriented lifestyles and possible dangers such as frigid
temperatures damaging crops and the pandemic upsetting
international supply lines. Following this evaluation process
alongside other strategies allowed this business to recognize
where it excelled internally, then utilize those advantages
combined with external prospects to improve upon weak
points while eliminating potential issues before they became
a reality.

Strategic Group Analysis

To effectively assess and move forward with your business
plan, it is beneficial to organize yourself along with your
competition based on the similarities or distinctions that exist
between your individual marketing strategies. Once you have
identified who shares a similar approach as yours, you can
then identify potential areas of advantage that may be utilized
to gain an edge over competing businesses.

Concisely, this exercise can help inform future business plans

toward achieving optimal success.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 What is a Strategic Group
Strategic group analysis is a method used by organizations to
analyze and determine the competitive landscape in their
industry. This process entails recognizing clusters of firms in
an industry that share comparable features, such as cost
structure, range of products and services, official
organization, processes, and the preference and perceptions
of consumers. Companies belonging to the same strategic
group typically compete for the same customers with similar
strategies and resources.
The concept of strategic group analysis was first introduced
by Harvard Professor Michael S. Hunt in his doctoral thesis
report in 1972. He defines a strategic group as "a cluster of
firms that share the same or similar strategies regarding
production technology, distribution channels, market
segments served, pricing policies, types of products offered,
labor use policies, advertising activities, and research and
development efforts." The main purpose of using this
technique is to identify groups within the industry where
competition is most intense, so companies can adjust their
strategy accordingly.

By looking at how companies within a certain strategic group

interact with each other—both internally and externally —
organizations can better understand their competitive
advantages and disadvantages relative to one another.
Through this analysis, companies can make decisions about
how best to position themselves against their competitors
and make sure they're focusing on areas where they can
excel relative to others in the same group. In some cases, it
may even be beneficial for a company to form alliances with
other members of its strategic group to better compete
against larger rivals or win customers away from them more
easily.

Strategic Group Example

If we look at the food service industry, one such strategic

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 group is fast-food restaurant chains. These establishments
promote affordability and convenience, featuring speedy
services and an extensive array of menu items with
competitive pricing relative to their rivals.

Other strategic groups within the food service sector include

fine-dining restaurants, cafés, and family restaurants; each of
these different categories offers distinct characteristics
regarding the quality of offerings, atmosphere, cost, and
more. Fast-food chains separate themselves from these other
strategic groups by virtue of their pricing model and
convenient services that appeal to busy customers on a tight
budget.

How to conduct a strategic group analysis

To carry out a strategic group analysis of your own, proceed
as follows:

Make a list of direct competitors

Making a list of direct competitors for a strategic group
analysis involves identifying companies in the same industry
or market segment as the company one is representing. It
involves assessing the inventory of products and services
that the businesses have, their target demographic and
customer base, and their standing with consumers. A key
step in this process is to determine which specific
organizations represent challenging obstacles that may
impede the success of your own business if not addressed.

For example, when compiling a list of direct competitors for a

retail store selling athletic footwear, one could consider
stores such as Nike, Adidas, Puma, New Balance, and
Reebok since they all offer similar types of products targeting
an overlapping customer base.

Distinguish between companies on the list

This allows you to understand which groups of competitors

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 are more competitive than others and provides insight into
why they might be doing better.

To begin, record the characteristics of each company,

including size, the versatility of merchandise, product pricing,
features, demographics of target audiences, and platforms
where they are active. Knowing this information will help you
compare companies side-by-side to discern who has an
advantage in certain markets or product categories. For
example, one company may have a larger size that presents
opportunities for economies of scale that smaller, lower-cost
competitors cannot match. Another company may offer
features or pricing strategies that favorably position them in
their market segment relative to other companies on the list.

By assessing these attributes individually and comparing

differences between companies on the list, you can identify
key areas where one strategically placed competitor has an
advantage over another. You can use this data to craft your
own strategy against these competing firms by gaining
insights into what drives their success and helps them
outperform those who fall behind or underperform.

Organize the companies on a map

Organizing companies on a map for strategic group analysis
is an effective way to understand and visualize the
competitive positions of each company. This can be done by
identifying defining characteristics such as market position,
size, price, and versatility of the inventory. Companies with
prominent market positions or larger sizes may have larger
circles on the map compared to those not as significant.
Companies that are close together in placement may be
direct competitors, while those more spaced out may have
less impact on the business being analyzed.

To further clarify how competitors compare to one another, it

may also be helpful to establish an X-Y axis alongside the

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 map to designate price (vertical) and versatile inventory
(horizontal). For instance, placing a company in the top left
corner may indicate that they offer expensive products with
many features. On the other hand, the bottom right may
suggest lower prices with fewer functions - so it’s important to
decide which dimension has priority when plotting company
placements.

It can be helpful if you include a key explaining what all

positions mean and which elements have been used to
measure them along your chosen axis points; this way, any
subsequent viewers will find it easier to interpret any patterns
found inside the group analysis map.

Evaluate the data on the analysis

When evaluating the data from the strategic group analysis, it
is important to consider the overall market and potential
opportunities that could arise as a result of your findings.
Examine the size of each competitor’s market share to
determine which ones dominate the sector. If any small
companies have recently emerged, then look into how they
may be targeting your business and assess whether you
need to develop a competitive strategy in response or not.

Additionally, analyze the competitive advantages of each

individual company to ascertain where your brand stands. Is it
positioned favorably in terms of pricing, product range,
reputation, and visibility? Make note of any trends around
decreasing customer loyalty towards competing brands so
that you can use this insight when crafting new strategies for
ensuring customer retention in your own organization.

You should also compare each attribute between different

competitors to see who has the edge over their rivals — this
gives you an idea of what makes them successful and how
you can emulate some aspects while making yours even
better than theirs. By incorporating quantitative insights

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 during your evaluation process, you will be able to gain
valuable insights on how to move forward with developing
strategies that aim at overtaking competitors while remaining
relevant in changing markets.

Benefits of a strategic group analysis

The benefits of carrying out a strategic group analysis
include:

Discover new business opportunities

It can help you discover markets that have not yet been
tapped into, enabling you to reach a wider consumer base
than your competitors. By focusing on engaging novel groups
of potential customers or broadcasting promotional
messages across newer digital platforms, you have the
opportunity to create brand recognition with those who have
not been exposed to your product or services previously.
Companies may benefit from being first-to-market in an
emerging market, as it can establish them as the
front-runners in terms of profits, name recall, and market
share.

For example, suppose a technology company performs a

strategic group analysis. In that case, they may discover an
untapped market segment — retirees, who may be more
likely to adopt their products given the right approach.
Executing well-thought-out campaigns targeting this
population could lead to higher sales and profits for the
company. This technique allows companies to capitalize on
demographic trends before their competitors do and gain
early access to profitable markets, which can significantly
improve long-term success for businesses leveraging this
tool.

Learn from competitors' mistakes

Learning from competitors' mistakes is a key benefit of
strategic group analysis. By studying the mistakes another

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 company has made, you can make sure to avoid the same
issues in your own business venture or project. For example,
if one company ran an advertising campaign that extended
for ten months and turned out to be unsuccessful — with
consumers losing interest — you can opt to run a shorter
campaign that may generate more positive results.

Conducting a strategic group analysis offers insight into why

the failure occurred, what contributed to it, and any changes
in the market that ought to be taken into consideration when
plotting future projects. When collecting information on
competitors' mistakes, look at consumer reception of their
efforts — such as sales conversions — as well as areas where
they may have gone wrong, like neglecting customer support.
This type of analysis can help inform and refine any action
plans for future work.

Additionally, learning from other companies' mistakes allows

you to build up your business acumen to understand why
certain decisions were made and what consequences they
ultimately had, resulting in either success or failure.

Importantly, learning from competitors' mistakes through

strategic group analysis is incredibly useful and cost-effective,
as it enables you to take proactive steps by averting similar
risks for any new business initiatives or attempts.

Evaluate the success of competitors

You can use the strategic group analysis to examine how a
competitor's approach proved successful. If, for instance, a
different company saw success with social media posts that
included humor in terms of engagement and recognition of
their brand, then it may be worth exploring the same
approach for your own business. By doing so, you can
confidently plan your next project, knowing that what worked
for one company could work for yours as well.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 The analysis will also provide insight into when it might make
sense to replicate an existing strategy or try something
entirely new. Suppose everyone else in the industry is
attempting to use humor in their communications, but not
seeing any lasting success. In that case, it may be better to
look elsewhere and find new innovative approaches that
have yet to be explored by other companies. Additionally,
reviewing components such as timelines and people involved
helps establish where different strategies do and do not fit
within your unique context.

Porter's Five Forces

Porter's Five Forces is an incredibly helpful tool for
understanding the underlying dynamics of any particular
industry. By gaining knowledge about a business sector or a
rival's operations, you can assess ways to create an edge
over the competition. The "Five Forces" identify five aspects
that must be taken into account when studying an industry:
the threat of new entrants, buyer bargaining power, supplier
bargaining power, the threat of substitution, and the intensity
of rivalry among firms. Examining how each factor influences
the whole setting of the sector can help in optimizing the
market position and improving profitability.

Difference Between Porter's Five Forces and SWOT

Analysis
Porter's Five Forces and SWOT Analysis are different tools
used to analyze businesses and make decisions. Porter's Five
Forces are primarily utilized to assess the competitive
environment in industry. It considers five key factors and
seeks to determine how much control each group has within
the industry and how likely it is that new players will enter the
market due to economic conditions or other barriers.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 A SWOT analysis looks more deeply at an organization’s
internal potential, focusing on four key elements: strengths,
weaknesses, opportunities, and threats.

Ultimately, these two models serve different purposes when

attempting to assess a company’s performance, even though
they both involve understanding various aspects of their
respective industries — Porter's 5 Forces provides data on
macro-level competition. In contrast, SWOT analysis provides
insight into microenvironmental variables that impact firms
operating therein.

Who Created the Five Forces Model?

Harvard Business School professor Michael Porter created
the Porter's Five Forces Model in 1979. It was first introduced
in his Harvard Business Review publication entitled "How
Competitive Forces Shape Strategy." In it, he explained how
external forces like suppliers, customers, new entrants,
substitutes, and rivals could impact an organization's ability to
compete and gain profits.

The Five Forces Model was designed to be used by business

leaders as a tool for analyzing their competitive landscape. By
assessing how they stand up against each of these five
forces, organizations can better understand their position
within an industry and what strategic decisions they need to
make to maximize performance and outperform competitors.
Over the years, the model has become an indispensable tool
for managers looking to assess the competitiveness of their
firm’s position within an industry. Today, it continues to be
used by companies worldwide when developing effective
business strategies.

What Are Porter's Five Forces?

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Competitive rivalry
Competitive rivalry is the most important of Porter’s Five
Forces and reflects the level of competition between
companies in a particular industry. The degree of rivalry
amongst competitors is often affected by factors such as
market share, product differentiation, market size/growth,
fixed costs, entry barriers, advertising expenses, and
concentration ratio. All these factors have an impact on how
intense the competition is between companies within an
industry.

When assessing competitive rivalry, it is important to consider

factors such as how many competing firms there are in a
particular industry, whether the products they offer differ
significantly from each other (product differentiation), and
whether any advantages that one firm has can be matched or
surpassed by another. It's also important to assess the size
and rate of growth for the global or local same-industry
markets being served.

The rivalry also depends on fixed costs (having higher

start-up capital usually creates more intense competition).
Fixed costs also play a role because when rivals are vying for
a limited number of customers, they may discount prices
aggressively to outcompete each other, leading to reduced

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 profits across all players in that particular sector.

Entry barriers should also be considered since if establishing

a new business venture requires too much time and money,
then competition will reduce intensely when compared with
industries with few entry barriers enabling new players to
enter quickly into existing markets, creating fierce rivalries
between incumbent firms and newly formed ones which can
take away their market share further reducing profit margins
for everyone involved.

In highly competitive markets, companies compete for

customers by offering lower prices and launching high-impact
marketing campaigns. This strategy makes it easier for buyers
to switch to another seller if they feel that they are not getting
a good deal from their current provider. On the other hand, in
industries where competition is minimal due to a lack of
alternative suppliers or products, companies can enjoy
immense power and higher profits as a result.

For example, if someone were setting up a haulage business,

they would need to consider how many potential rivals exist
in this field, what prices they charge (and how easy it would
be for them to discount), what resources those competitors
have available compared with theirs and what are some key
entry barriers so that they can accurately assess competitor
power before forming their own pricing strategy accordingly.

Potential of New Entrants Into an Industry

This element takes into account a company's ability to ward
off potential rivals and how easy it may be for newcomers to
enter the industry and compete effectively with existing
players. Knowing which characteristics are needed to
successfully break into the market, as well as what barriers
exist that could prevent others from entering, can help
companies determine their competitive edge over others in
their field.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 The main factors used to measure the potential threat posed
by new entrants into an industry are ease of entry, cost of
entry, economies of scale, and product differentiation. If it is
relatively cheap and simple for competitors to set up shop in
the same industry, then this will pose a larger threat.

Aspects such as high startup costs or complicated distribution

networks can act as barriers against prospective entries,
especially if there is a lack of resources or access to key
technologies that already exist within a certain sector.
Additionally, companies operating in industries with
significant government regulation or with entrenched
customers who are loyal due to switching costs also tend to
require more effort for new competitors looking to get
started.

Suppose companies have established themselves as large

organizations that benefit from economies of scale and can
drive down their overall running costs. In that case, they will
enjoy a competitive advantage over smaller players
attempting to enter the same market. This can make it
expensive for new entrants due to inflated prices being
charged by organizations able to manipulate supply &
demand dynamics, as well as offering often superior services
than those just starting in the same field.

Having said all this, even seemingly protected markets

should be guarded against because changes in regulation or
technology could make them vulnerable again, allowing agile
newcomers who offer low-cost options combined with
innovative thinking to take advantage while still staying
competitive in today’s climate.
The airline industry serves as a great example of this due to
its relatively high start-up costs and limited availability of
routes/takeoff slots. Yet, some small operators have managed
to break through all these difficulties and have become

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 successful thanks partly to regulations being reduced over
time, meaning minimal profit margins were now feasible while
providing quality services at discounted prices compared to
legacy airlines, making them appealing enough to attract
customers away from more established carriers — something
that would not have been possible without determined effort
by those newcomers trying to break into formerly protected
markets.

Power of Suppliers
Power of Suppliers looks at the impact of suppliers on a
company's profitability. This refers to how easily a supplier
can increase their prices or reduce the quality of their
product. How much power suppliers have depends on how
easy it is for a business to switch between them. A high
concentration of suppliers increases competition, while a low
concentration decreases competition, which may allow them
to charge higher prices. This could put businesses relying
heavily on these suppliers in an unfavorable position.

It's also important to note that supplier power is not just

limited to pricing — some may also be able to control delivery
conditions as well as force businesses into expensive
contracts, which can have an impact on profitability, it can
also affect product viability. An example of this would be if
you intended to manufacture electronic devices, but then
found out that one supplier held a monopoly over all
specialist components required for production — causing
your costs for those components to skyrocket due to a lack of
competition in the market.

Power of Customers
The power of customers is the ability of buyers to affect
prices and other elements of a product or service within an
industry.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 In general, when considering buyer power, it's important to
look at the number of buyers compared to suppliers as well
as other factors, such as customers' switching costs and
bargaining leverage related to the size of orders or volume
discounts offered by suppliers. The more customer-driven an
industry is, the higher its potential for customer buyout, which
creates incentives for competitors and suppliers alike to
remain competitive in terms of pricing, quality, and service
delivery to appeal to customers’ needs in the best possible
way each time they visit or shop from them.

For example, if only two large companies were trying to buy a

particular type of material from three suppliers, then those
two large companies would likely be able to exercise strong
buyer power by driving costs down through competition
between the three suppliers. On the other hand, if many
smaller entities compete to buy that material from only one
supplier, then that supplier has a significant amount of
leverage over setting prices because there is limited
competition.

In terms of food retail as an example, this can affect how

many supermarkets charge for food products as well as how
much influence they have on their suppliers with regard to
price negotiation. If supermarket shoppers have access to
multiple stores offering similar products at different price
points, then supermarkets must constantly lower their own
prices in order to remain competitive and ensure customer
loyalty; this decreases supermarkets' buyer power with their
own suppliers because they often end up paying more than
necessary for materials.

Similarly, larger retailers like Walmart or Costco have

extensive buying powers due to their size and ability to
purchase in bulk, which allows them to offer cheaper options
compared to smaller retailers, who may not have the same
purchasing benefits as wholesale suppliers.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 When evaluating industry competitiveness it’s important to
take into account the strength and presence of buyers in
assessing the level of buyer power on market participants,
otherwise pricing strategies may be misaligned.

Threat of Substitutes
The threat of substitutes shows how vulnerable a business
may be to new competitors entering the market. Suppose a
customer has access to alternative products or services that
meet their needs. In that case, they can switch away from a
particular company, causing decreased profits and market
share due to price competition. This is especially relevant
when disruptive technologies enter the industry and make
older methods obsolete.

For example, 3D printing technologies have drastically

lowered the cost of manufacturing toys and several plastic
tools compared to traditional methods, leading to increased
competitive pressures on organizations within the market.

Organizations need to actively monitor emerging trends to

protect against this type of threat. They must remain
up-to-date on customer demands and anticipate changing
market conditions so that they can provide innovative
solutions that offer better value propositions than
competitors. The key here lies in responding quickly enough
before new competitors can take advantage of the situation
— if this happens, then your organization may face reduced
profitability as customers switch away in search of more
competitive offerings.

Example of Porter’s Five Forces

Examples of Porter's Five Forces are listed below. By
recognizing each force, businesses can comprehend the
potential opportunities and risks they face.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Competitive rivalry
Under Armour has several well-established competitors in the
performance apparel market, such as Nike, and Adidas.
These companies and several others in the industry have
significantly higher resources than Under Armour, allowing
them to dedicate more money to increasing their market
presence within this growing product category. Unfortunately
for Under Armour, due to the lack of patent protection for any
of its fabrics or processes, other companies could potentially
replicate any part of its portfolio in the future. This puts Under
Armour at a disadvantage when it comes to staying ahead of
its competition and maintaining a commercially successful
product line.

Bargaining power of suppliers

Under Armour has the edge over its suppliers because they
receive its goods from a diverse range of companies in
various nations. Rather than relying on just one supplier,
Under Armour can draw on an array of manufacturers,
thereby weakening the bargaining power of any single
provider. By spreading out production among many different
vendors located around the world, Under Armour eliminates
potential holdups or price increases that could arise if all
items were sourced from one supplier alone. This way, it's
better equipped to handle any issues with supplies and has
more control when negotiating cost and delivery terms.

Bargaining power of customers

Under Armour has two distinct groups of clients it must
satisfy: wholesale customers such as Dick's Sporting Goods
and end-user consumers. Wholesale customers can leverage
their purchasing power by having the ability to substitute
Under Armour products with those of its competitors; by
doing so, they can secure higher profit margins for
themselves. End-user consumers do not have this same kind
of bargaining power due to Under Armour's successful brand
recognition in the market.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Threat of new entrants
Developing a brand in the performance apparel industry is
expensive. Companies must invest heavily in advertising
campaigns, building product awareness, and stimulating
consumer demand to achieve success. This financial burden
can act as a barrier to entry for new entrants, making it
difficult for them to break into the market. However, firms
already established in the sports apparel sector, like New
Balance, have an advantage over these outsiders; they
already understand the industry dynamics and have built up
trust with consumers. Consequently, these businesses may
still be able to tap into the performance apparel space at a
later date if they feel so inclined.

Threat of substitute products

The foreseeable future does not present any obstacles for
Under Armour, as the demand for performance apparel,
athletic shoes, and related accessories is predicted to rise.
This means that this particular factor will not be a challenge
for Under Armour in the near future.

How to Use Porter's Five Forces Model

To use Porter's Five Forces Model, begin by examining each
of the five forces individually and then evaluating how they
apply to your industry. After that, list down the forces present
in your specific industry and rate their importance from "+"
(moderately favorable) to "++" (very favorable), "-" (moderately
unfavorable) to "--" (very unfavorable), or "o" (neutral).

Once that has been completed, analyze your findings to see

if there’s anything that could be done to improve your
company’s competitive position or increase profitability. If
some of these forces appear unfavorable based on your
analysis, look for ways you might be able to transform them
into something more advantageous for your business. This
could involve entering new markets or seeking out different

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 suppliers with better terms, for example.

Finally, take the key insights from Porter's Five Forces Model
and create actionable steps you can take in order to achieve
success in the long run. This could include developing
strategies around pricing structures, quality assurance
checks, marketing campaigns, and even creating modern
digital systems tailored toward customer service
improvement. A well-thought-out game plan that takes all five
forces into account, coupled with innovative solutions that
dovetail traditional operational practices with modern
technology approaches, should lead the way forward down
the path toward achieving lasting competitive advantage.

Perceptual Mapping
Perceptual mapping is a tool used by businesses to
understand their customers' feelings, thoughts, and
perceptions regarding their products, services, the
competition, and their positioning. A perceptual map visually
depicts how customers perceive and evaluate different
aspects of a company's offerings in relation to each other.
Through this graphical representation of customer data from
surveys, ratings, and other analytics, companies can gain
insight into how they are viewed by the public.

Perceptual mapping allows businesses to refine their

messaging and product offerings to better meet consumer
needs and gain an edge over competitors.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 The map uses a two-axis scatter chart, where each axis
represents an industry attribute. You must first decide which
attributes you will use for your axes by selecting opposing
values, such as high vs. low price or most exclusive vs. least
exclusive. Once these attributes have been selected and all
brands have been plotted on the chart, you can get an
understanding of how consumers perceive all the brands in
comparison to one another.

This data gives you insight into how people view products
and services in your industry so that you may accurately
determine the competitive positioning of not only your own
brand but also those of other businesses in this market. It
allows for an at-a-glance look at how people perceive each
brand individually and comparatively, giving you direction
when designing campaigns that improve customer loyalty
and attract new customers through thoughtfully crafted
messages that align with these ideals.

Thus, before making a perceptual positioning map, it is

essential to do some initial legwork to ensure its accuracy in
depicting the actual perception of each product or service
relative to its competition within your chosen industry
segment.

Why do Perceptual Mapping?

The main benefits of creating a perceptual map are:

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Insight into customers
Perceptual mapping can provide you with insight into your
customers' thoughts and opinions about your company,
products, services, and their relationship with competitors.
The map gives you a visual representation of how they
perceive the differences between different brands. Through
the map, you can identify areas of strength or weakness in
the market compared to other competitors in the same
industry. For example, it lets you discover which factors make
your brand stand out from its competition and if any blind
spots could be addressed.

In addition, it identifies which features differentiate it from

competitors and appeal to certain customer segments. It also
helps identify new opportunities for growth or untapped
sources of revenue by discovering who is not buying from
you now but would potentially do so if targeted differently in
terms of pricing or message.

Perceptual mapping indicates how loyal customers are

towards one product over another, allowing companies to
better understand both product strengths and weaknesses to
develop effective marketing strategies.

Perceptions tracking
This involves gathering feedback from customers to track
how their perception of your brand, product, or service
changes over time. This type of tracking can provide valuable
insight into how customers view you compared to
competitors and help you understand where improvements
can be made.

By analyzing customer responses over time, it is possible to

detect any shifts in customer perceptions, allowing for the
identification of emerging trends or hotspots. For example,
introducing a new product or service could influence

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 consumer sentiment either positively or negatively. Through
perceptual mapping and tracking consumer reactions,
businesses can gain insight into whether the introduction had
an impact on positive perceptions or if customer sentiment
remained the same during and following the launch.

If a new competitor enters the market, repeating this process

would also provide valuable data points with which to
compare customer perceptions against those of other
competing brands. This analysis helps understand if your
brand is perceived as having greater value than your
competitors and what kind of value consumers place on your
offering before making a purchase decision.

Market researches on competitors

Market researches using perceptual maps can help you
better understand where your competitors are placed in the
market and how your products compare to theirs. By
assessing the customer's responses when asked about the
competitor’s product, you can gain insights into how those
customers view their offerings. This information can provide
useful insight into a company’s competitive advantage or
disadvantage, allowing you to target areas where you have
an edge over others in the market.

Tracking customer preferences and perceptions of

competitors can also enable more strategic decision-making
regarding promotional campaigns and product development.
For example, if a customer perceives one competitor as
having a superior design, it may be beneficial for your brand
to focus on improving its own designs to draw customers
away from that rival company. Through such insights gained
through perceptual mapping techniques, companies can
adjust their advertising strategies and product features to
give themselves an edge over their rivals in the market.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Brand repositioning
Brand repositioning entails changing the perception that
customers have of a brand. It involves shifting customer
beliefs, values, and perceptions about a company’s product
or service. Perceptual maps can be used to help businesses
gain insights into how consumers view their brands in
comparison to competitors. The data extracted from
perceptual maps can inform brand repositioning decisions,
helping companies decide on strategies for creating new
associations or adjusting existing ones with their brand.

For example, if a perceptual map highlights that customers

associate your competitor's brand with quality and your brand
with affordability, you may choose to emphasize the
high-quality ingredients within your products and services for
better customer appeal. You could also adjust pricing so that
it fits the perceived value of your product, thus matching what
consumers perceive as "affordable" for certain products. This
would ensure you are still competitively priced while
maintaining an appropriate level of quality associated with
your offerings.

It is important to note that consumer feedback from

perceptual mapping should be taken into consideration, but
not solely relied upon when making decisions related to price
points or marketing strategy revisions. Companies should
also consider other factors such as market trends and
research data before implementing changes based solely on
consumer opinions gathered through perceptual mapping
exercises.

Development of new products

When developing a new product, perceptual mapping can
provide useful insights. It can help you identify customer
preferences and reveal opportunities for differentiating
products in the market. For example, looking at a perceptual
map of customers’ ratings of existing products might reveal

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 any gaps in the sector where there are no satisfactory
solutions or services. This could give you insight into which
features customers would benefit from most, allowing you to
focus on these elements when producing the new product.

Perceptual mapping also helps you forecast demand for a

potential product before mass production begins. You can
use what you learn about customers and their preferences
from the maps to get an idea of how well the product will be
received by your target audience upon launch. With this
insight in hand, it becomes easier to make decisions
regarding how much to produce and when to launch it for
maximum effect.

Furthermore, perceptual mapping can also assist in assessing

how competitors may be impacted and will react to your new
product entering the market. Maps allow comparison
between brands and products within each category, enabling
analysis of competitor strategies so that they may be
integrated into the company's current system or taken into
account during marketing efforts. With these considerations
in mind, your organization will be better placed to
outmaneuver competitors and maximize sales potential with
its latest release.

Who can use a perceptual map?

Perceptual mapping can be a helpful tool for any business or
organization that provides a service and wants to better
understand the perceptions of its customers. Schools,
colleges, and universities often use perceptual maps to
measure student sentiment by assessing how students view
their institution compared to others in terms of quality,
reputation, cost, etc. Political campaigns also rely on
perceptual maps to gain insight into voter opinions and
determine where they stand in the public’s eyes relative to
other candidates.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Marketing teams and brand managers in competitive
industries can also utilize perceptual maps to evaluate
customer feelings about different products or services
offered within the same sector. This type of analysis helps
them understand what sets each offering apart from one
another so that they can adjust their strategy accordingly.
Ultimately, perceptual mapping gives organizations an inside
look at how their offerings are perceived by potential
customers or voters — information that can be priceless when
it comes time to make important decisions.

How to create a perceptual map

Below are five steps you can follow to design an effective
perceptual map:

Pick your parameters

When selecting parameters for a perceptual map, it is
important to consider your own business objectives as well as
what attributes are important in the market. This means taking
into account customer pain points and the attributes that lead
to success in your industry. Additionally, research or focus
groups can be very beneficial in determining which
parameters would make up an effective perceptual map.

Examples of potential parameters could include quality and

price, modernity and complexity, coolness and practicality,

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 and convenience and choice. These categories can then be
split into two opposing values for each parameter. For
example, with quality and price, you could have low-quality
vs. high-quality as well as low price vs. high price; for
modernity and complexity, you could have modern vs.
traditional and complex vs. basic; for coolness and
practicality, you get uncool vs. very cool and indulgent vs.
practical; while convenience versus inconvenience paired
with an extensive choice vs. a limited choice make up the last
parameter set.

In essence, when creating a perceptual map, pick pertinent

parameters based on your own business goals as well as
market trends. Use available resources to help determine
appropriate parameter sets before splitting them into two
opposing values per category.

Define your competitors

Here, competitive analysis should be conducted to determine
which companies are direct and indirect competitors.
Through this analysis, you can gain knowledge of your strong
points and weaknesses, who your target market is, what
interests and choices they have, how your competitor's
product or service differs from yours, and any customer
reviews they have received. It is best practice to include at
least 10 different competitors in a perceptual map so as to
gain the most accurate visualization of one's position relative
to them.

To ensure an efficient and accurate collection of competitor

data during this phase of the perceptual mapping process, it
is important to identify all available sources of competitor
data. This includes exploring many forms of traditional
marketing channels like television ads, radio spots, and print
media; utilizing surveys or interviews with customers to
receive valuable consumer feedback; researching online
reviews; checking websites for product or service

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 information; and checking social media accounts (of people
followed by your target market). By gathering as much data
about competing firms as possible upfront, you will save
yourself time when creating your perceptual map later on
down the line.

Place your competitors

Once you’ve established your industry’s parameters and
determined who your competitors are, it’s time to create your
map. Adding each competitor onto the perceptual map is
essential to understanding consumer perception of the brand
in comparison to its competitors. It helps to have insights from
competitive analysis prior to drafting the map, as it will
provide valuable information when deciding where each
competitor should be placed.

Using insights from your competitive analysis, draw out your

map and add your competitors where you think they belong.
Start by plotting each competitor according to their ranking
from your parameters. Placing them close together can
indicate that there is a level of similarity between these
particular products/services or brands, but placing them
further apart could signify an extreme difference between
them.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 For example, if the perceptual map is being created for a
fashion brand, all the major fashion brands that offer similar
products should be added to the map before positioning the
particular brand under consideration. This allows you to gain
a more accurate understanding of how consumers view each
rival offering, allowing you to find an appropriate place to
position your own brand.

This is also applicable to the example of the granular bar

below.

The same approach can also be taken with new product

launches by closely examining individual product positioning,
as this can help explain why certain products may be chosen
over others.

By doing so, you can use existing consumer perceptions to

positively influence customer decisions when launching or
relaunching a product, making it easier for those customers
to see its value and purchase accordingly. It also provides
valuable feedback that can be fed back into future strategic
planning sessions, allowing businesses to tailor their offerings
accordingly while keeping up with market trends at all times.

Share your map

Once you have created your perceptual map and are

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 confident in the results, it’s time to share it with your
marketing stakeholders and shareholders. This step is an
important part of using the map as a tool for gaining further
insights into consumer attitudes toward your brand or
product.

During this meeting, conversations will take place about what

may need to be changed within the brand. This could mean
anything from differentiating your business model in
comparison to competitors, changing advertising methods
due to consumer attitudes not being what was expected,
taking advantage of any opportunity gaps in the industry, or
benefiting from promotional campaigns that can help shape
consumer perception. At the end of the meeting, you should
have a better understanding of which direction you should
take next in terms of strategic planning.

BCG Matrix (also called

Growth Share matrix)
The BCG Matrix, or Boston Consulting Group Matrix, was
developed by the Boston Consulting Group in 1970 and is
used as a tool to help businesses evaluate their product
and/or service portfolios. The matrix helps companies identify
which products should be invested in and where resources
should be allocated across a business’ product divisions.

At its core, the BCG matrix is based on two main indicators of

performance: market share relative to its competitors and
market growth rate. It classifies each product or service into
one of these four categories — stars, cash cows, question
marks, and dogs — using those two criteria, based on their
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 current level of success.

Understanding a BCG Growth-Share Matrix

Dogs (or Pets)
A "dog" is a product that has a low market share and is
growing at a low rate; it is represented in the lower right
quadrant of the growth-share matrix. Dogs have little to no
contribution towards cash generation for the company due to
their lack of market share and minimal growth potential.
These products can be thought of as money pits, trapping
company funds without providing much return — resulting in
their suitability for divestment or liquidation.

Given its position in the growth-share matrix and its inability

to generate sufficient cash flow, it would be recommended
that companies look into selling or repositioning these "dogs"
so as not to become trapped in an unprofitable venture.
Companies can greatly benefit from freeing up any funds
currently tied down by these products and reallocating them
instead towards those with more potential. It may even be
useful for companies to delve further into what lies behind
the product's underperformance before taking any decisive
action; this could include conducting market research on
customer tastes or preferences that could indicate why there
may have been high demand initially but then unreasonable
amounts of stagnation afterward.

Cash Cows
Cash cows are products that are in low-growth markets with a
relatively large market share. They provide the company with
higher returns than the market's growth rate. These products
benefit from a steady cash flow, and they often do not require
much investment to maintain their current performance. A
product's value can be determined by its predictability, as
cash cows tend to have highly predictable cash flows.

Because of their low-growth nature, companies should take

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 advantage of these products for as long as possible. Since
these products generate more cash than is needed for
day-to-day operations, companies can use this extra money
to reinvest in “stars,” or new projects with the potential for
high growth and high share in the future. This will allow them
to maximize profits from all sources by leveraging both
existing projects and new initiatives that could show potential
for success later on.

Milking a cash cow may also involve cutting costs associated

with production or advertising expenses that were previously
allocated for it so that any additional revenue generated
doesn't have to be invested back into maintaining the
product itself but instead used elsewhere within the company
towards other goals such as research and development.
However, if competition arises or market conditions change,
then these investments might need to be reallocated back
towards maintaining the product rather than investing
elsewhere to protect its position within the marketplace until
it reaches its maturity point, at which time further decisions
can be made about future advancements.

Stars
"Star" products are those that are situated in high-growth
markets and make up a sizable portion of the market. They
are situated in the top left-hand corner of the BCG
Growth-Share Matrix, indicating that they bring in substantial
revenue yet require a considerable expenditure of company
funds. Stars typically experience rapid growth in sales and
require a great deal of cash to fund this growth (usually in the
form of advertising, research, development, etc.) due to their
need to maintain their competitive edge and dominance in
the market. In addition, with established competitors, it is
important for them to continuously innovate to remain ahead.
As such, stars tend to be quite costly investments for
companies, as they often allocate huge amounts of resources
to these products.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 When a star successfully remains a market leader, its returns
also increase significantly, which means it eventually
becomes a “cash cow” when market conditions change and
the overall rate slows down. At this point, much less
investment is required as mature competitors become less
aggressive and profits remain relatively stable thanks to
strong competitive advantages built prior to further
investments in earlier days. Companies should consequently
consider investing more in these stars during their
fast-growth periods so that, during slower periods, they can
potentially derive greater revenues from each product over
time.

Question Marks
Question marks are products and/or business units with a
high market growth rate relative to their current market share.
They have a high market growth rate yet possess a low or
weak market share compared to other competitors in their
sector. They are placed in the upper right corner of the BCG
Growth-Share Matrix and require frequent monitoring from
management.

These products often consume large resources with low

returns and may either become successful stars or be
divested as dogs. Companies should assess these
opportunities frequently to determine whether they could
create value for the organization or not. If the company does
not invest resources in these opportunities, a competitor will
likely seize upon them and gain an advantage over time.

Management must pay attention to these opportunities

because of their potential for rapid growth due to high
demand in markets with low competition. However, there is
also a risk that they may fail if they cannot capture significant
market share and maintain profitability, even though heavy
investment expenditures have been made. Companies need

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 data-driven evidence on which decisions can be made when
analyzing question mark businesses — this includes the close
estimation of sales potential, consumer preferences, product
features, etc.

Ultimately, investing in question mark businesses represents

a gamble; however, if managed correctly, it has the potential
to pay off handsomely since it provides access to new
markets and customer segments while leveraging existing
organizational strengths such as production capabilities, etc.
It’s important, however, that companies accurately forecast
profitability when assessing these types of opportunities so
that risks can be minimized as much as possible before
making any major moves toward launching these
products/services in new markets or sectors.

4 Quadrants of a BCG matrix

Stars quadrant
The "Stars" quadrant of the BCG matrix includes products or
business units with the greatest market share and the most
cash generated. Monopolies and first-to-market products may
also be categorized as stars in certain scenarios.

Stars can be very attractive because they are high-growth

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 business units and generate significant amounts of cash. The
challenge with stars is that, despite their growth rate, they
can consume large amounts of money too. So it means that
although there’s a lot of money coming in, an equal amount is
going out as well, making the net revenue negligibly small.

This makes investing in stars something that requires careful

consideration and great strategy. With proper planning,
companies can make sure that their resources are being
used wisely on these projects to ensure their success over
time. It is important to point out here that if a star product can
sustain its success for long enough without slowing down,
then it could eventually become a cash cow when the market
slows down due to its high market share and profitability until
then.

Thus, investing in stars is essential when forming part of any

BCG strategy for growth since they possess huge potential in
terms of revenue generation — so long as they receive
adequate levels of support from management, both
financially and strategically.

Cash Cows quadrant

The Cash Cows quadrant is the most desirable of the 4
quadrants in the BCG Matrix. It represents products or
services with a high market share but low growth prospects.
These products are already well established and typically
generate more cash than they consume; hence, they're
referred to as "cash cows."

Cash cows offer a significant degree of stability and security

for an organization's bottom line because they have such
well-established footholds in their respective markets that
further investments are not needed to maintain them. Instead,
companies can simply "milk" the gains from these mature
entities by collecting profits passively and using these funds
elsewhere in their business operations. This could be

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 reinvesting money into existing cash cows or investing it into
new opportunities with higher potential returns, such as
Question Marks or Stars.

Because cash cows typically require less investment while

providing strong financial yields, some businesses may be
tempted to focus all their efforts on cultivating and investing
in this type of product or service alone. However, this would
be a mistake, as over time competitors may release new
innovations that could take away your once-secure market
share and leave you without a competitive advantage over
other players in your industry. It is important to balance out
your portfolio so that you have multiple sources of both
income and opportunity moving forward.

Dogs quadrant
The Dogs quadrant of the BCG matrix is used to identify
products with a low market share and low growth rates.
These units lack business performance and cash flow
contributions.

Dogs can range from small side businesses that bring little to
no net income and growth opportunities, all the way up to
large-scale business units within an organization that
consumes most of its cash flow without offering any return on
investment. These companies are typically stagnant in terms
of performance and earnings.

When it comes to these cash-draining operations, they should

be identified early so that necessary steps can be taken to
either reduce costs, increase sales, or develop new strategies
for better efficiency. In some cases, the best option may be
divesting completely and eliminating the non-performing
investment altogether.

Question Marks quadrant

The Question Marks quadrant of the BCG matrix is for

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 business units or products that have high growth prospects
but a low market share. These units typically consume a lot of
cash and bring little in return, making them net losers for the
company.
Question marks need to be closely monitored, as they can
quickly turn into either stars or dogs. Therefore, companies
should invest resources in these parts of the business if there
is potential for rapid profits, or sell off these parts if they do
not have this potential.

Question mark investments are usually risky and require

significant resources, yet they have the potential to offer
higher returns than other quadrants. Companies should
consider their current strategic position before investing in
question marks; if they already have strong stars taking up
most of their time and energy, it may be more beneficial to
prioritize those instead of risking further money on uncertain
question mark prospects.

Many businesses often find themselves with too many

question marks at one time; in this case, it would be better to
cut back on investments rather than continue down this path
until all resources are drained. By focusing on fewer projects
with greater potential for success (i.e., "stars"), management
can ensure a better return on investment over time.

Example of a BCG matrix

The BCG matrix example of The Coca-Cola Company serves
to demonstrate the complexity of product management. As a
company that offers more than just its flagship brand, each
drink line requires assessment with regard to its market share
and potential for growth.

Their numerous drinks, from titular soda to Minute Maid, Diet

Coke, Kinley, and Dasani, can be divided into four different
quadrants. Minute Maid and Diet Coke can be considered
question marks as they possess moderate appeal with

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 potential room to expand. Conversely, Kinley and Dasani
bottled water brands have strong market positions in Europe
and the U.S., thus making them stars that continue to show
signs of consistent growth.
With low growth but an impressive market share, their
mainstay soda is classified as a cash cow. However,
legislation against soft drinks coupled with negative public
sentiment has caused the sales of Coca-Cola's signature
beverage to reduce; thus placing it in the Dog quadrant as
well. This particular instance emphasizes that some products
can belong to more than one corner of the BCG matrix
simultaneously.

When to use a BCG matrix

When it comes to knowing when to use a BCG matrix, there
are several different circumstances that require its use. It is
particularly useful for marketing, project management, and
strategic management as it helps organizations better
understand their business portfolio. Generally speaking, the
BCG matrix is employed during the early stages of creating a
strategy for a marketing campaign or project.

If one of your products is classified as a "question mark" in

the BCG matrix, you may want to consider increasing
investments in order to gain a larger share of the market. A
BCG matrix can also be used in determining whether you
should pause investment in certain products (if one of your
products ends up being categorized as a dog), maximize
cash flow from specific products (by identifying your star
products with the highest market share), or allocate resources
more effectively (to have better chances at turning a profit).

However, it’s important to keep in mind that the matrix is

typically better suited for larger businesses, where there is
enough relative market share for analysis. For smaller
businesses that don't have much wiggle room with their
budget constraints or limited resources, using this technique

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 may not be feasible since they cannot spend more on the
marketing budget to increase market share.

How to use the BCG Matrix

Stars
"Stars" refer to products that have a high market share in a
rapidly growing market. These products are very attractive as
they are located in an extremely competitive category. That
competitive advantage gives them the potential for high
revenue growth, since their market share and growth rate are
generally quite high.

To take advantage of this, businesses must invest heavily in

developing innovative products that can stand out from the
competition. This may be expensive, but is necessary for
sustained success because stars typically occupy product life
cycles that extend for long periods of time. In addition, if
successful, these stars can even become cash cows within
the marketplace when their respective categories mature
(assuming they maintain their market share).

However, not all stars turn into cash cows due to constant
innovation and changes within many industries; even if an
innovative product becomes highly popular at one point, it
could quickly become obsolete thanks to technological
advancements or other external threats. If this happens, then
a star instead turns into a dog — that is, it inevitably fails and
ceases profitable production.

Question Marks
Question marks refer to businesses or products that have
high growth rates but occupy a small market share. They are
also known as "problem children," and most businesses start
off as one of these. Even though they have the potential to
reach great heights, it requires huge investments to capture
or protect their market share.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Investing in question marks should be done strategically,
since it is a risky option; not every investment will lead them
to become stars and eventually cash cows. Otherwise,
without proper focus, they may produce negative cash flow
instead of profits and end up becoming dogs or exiting the
market altogether. Therefore, careful consideration is
essential before investing in question marks, since this kind
of decision can make or break the entire business.

Other considerations such as product promotion strategies

should also be taken into account while opting for this
category, as they are not always guaranteed success stories
like stars who already possess a strong foothold in the
industry and guarantee good returns with steady investment
levels over time. Without substantial promotions within a
short period of time, question marks may fail to gain any
traction among its target audience, which can prove
disastrous for the company’s prospects.

Cash Cows
A "cash cow" is a company or product that earns an
exceptional amount of money relative to its investments and
other costs. These companies/products are the crown jewels
of a business portfolio — they earn revenue while needing
very little investment and should be managed to guarantee
continued profits and cash flow. They can often be large
corporations or SBUs (Strategic Business Units) that are
efficient at innovation.

Using the BCG matrix, Cash Cows should capitalize on their

sales potential and make the most of their current size to
boost profits. Companies should also keep in mind that even
though these organizations are making big bucks, they aren't
necessarily taking any risks through investing or growth
initiatives. Therefore, it's important to recognize when these
opportunities present themselves so as not to neglect them.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 This will help ensure consistent profitability throughout the
years ahead.

In the long run, Cash Cows will form an integral part of any
BCG Matrix strategy — as long as investors remain focused
on both defending their market share successfully and
leveraging their size properly, there should be ample
opportunity for generating high levels of profit through
relatively low-risk investments over an extended period of
time.

Dogs
A dog in the BCG matrix is any product (or service) that has a
relatively low market share in a low-growth or declining
industry. These products are often referred to as "cash traps"
because they generate enough cash to fund their own
operations but do not offer much promise for growth or future
profits due to their lack of competitive advantage. If the dog
doesn't have another goal in mind and there aren't very good
chances of it becoming successful, there’s no good reason to
keep it under management.

Dogs face cost disadvantages due to their limited scale of

economies, which makes it difficult for them to return on
investments. They are also typically situated at a declining
stage of the product life cycle, making them less attractive for
companies and investors looking for promising opportunities.

Therefore, in order to use the BCG matrix effectively,

companies should look at ways of minimizing the number of
dogs within their portfolios by optimizing current operations
and getting rid of non-value-adding activities or features that
these products possess. Companies should also reposition
their offerings in terms of pricing strategy or sell off these
businesses altogether if there are no prospects for gaining
market share. This will help ensure that resources are being
allocated efficiently with minimal risk.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Competitive strategy and BCG Matrix importance
Competitive strategy is essential for long-term success in any
business. Building a marketing plan that takes into account
both the elements of competitive strategy and market
research tools like SWOT analysis helps ensure a business
remains proactive in meeting changing customer needs as
well as its competitors' actions. Planning allows companies to
effectively make adjustments so that they don't miss out on
potential growth opportunities. If management fails to
consider these dynamics, their businesses can suffer
stagnant growth or worse.

For businesses seeking investments, it is important to create

an effective plan with elements of both competitive strategy
and marketing planning. While it can be tempting to reduce
strategy to one-page documents and budget spreadsheets,
this could actually limit returns compared to the market.

A good business plan should incorporate elements of both

competitive and marketing strategies to make it attractive to
investors. However, many companies put too little emphasis
on marketing planning or disregard it altogether, missing out
on potential growth opportunities.

The BCG matrix is an effective tool for businesses because it

allows them to envisage future scenarios and progress while
minimizing the risks associated with stagnation. This helps
organizations identify areas where they can invest and use
resources effectively to maximize their chances of making
major changes and undertaking digital projects that could
catapult them into greater success in their sector. In other
words, strategic forward-planning enabled by the BCG matrix
provides firms with the best chance at maintaining a
competitive edge over their rivals — something every
enterprise must strive for if they wish to succeed financially.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Thus, companies should stay up-to-date with digital
investments and major changes to remain competitive.
Ultimately, taking measures to understand the competition
and how customers are evolving is key to achieving
long-term success and staying ahead of your competition
through the BCG matrix.

How do you create a BCG matrix?

Having gained an understanding of a BCG matrix and its
advantages and drawbacks, let's now explore the steps to
creating one.

Choose the product

Choosing the product to analyze is the primary step when
creating a BCG matrix. Depending on the type of analysis
being carried out, different types of products may be chosen
for consideration. For instance, in an analysis of a business
unit, different brands or product lines offered by that unit
might be chosen instead of individual products. Alternatively,
if a firm as an entire entity is under consideration for analysis,
then all products marketed by that firm could be included in
the BCG matrix. Additionally, if distinct product lines are
identified under one brand name or umbrella company logo
or trademark, those may also be suitable choices for
evaluation as part of the BCG matrix.

No matter what type of product is selected to be evaluated

with a BCG matrix—individual products within a particular
business unit, several branded lines associated with a
particular parent company, or all items sold under one
company name — care should be taken to ensure an
accurate reflection of their relative market performance and
potential to attracts sufficient attention during the
development process and beyond. The number and kind of
specific items selected will have implications on how
descriptive the results ultimately become; too many unique
items can lead to oversaturation and skewed results due to

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 statistical fluctuation, while too few can reduce granularity
and provide insight into consumer preferences, which would
eventually lead to inaccurate conclusions about both market
performance and future opportunities for improvement.
Ultimately, any choice selected should reflect both current
realities in terms of consumer engagement patterns, as well
as potential upsides inherent within any specific product line
consumers may respond favorably toward, given appropriate
marketing strategies established by key decision-makers
within any organization undertaking such analyses. This
means taking into account existing customer reviews from
online sources — such as Amazon — including direct
feedback gathered through surveys or focus groups before
adding them into consideration so that only valuable
information makes its way onto the analytics dashboard prior
to starting your own BCG Matrix process.

Define the market

When defining the market for a BCG matrix, it is important to
consider all factors that distinguish different types of products
and their respective markets. For example, when analyzing
Daimler's Mercedes-Benz car brand in relation to the
passenger vehicle market, one must consider not only the
specific type of product (i.e., cars) but also other relevant
factors (such as price range or performance). This helps to
identify potential submarkets within the larger consumer
segment, which can be further explored and classified
accordingly.

For example, in terms of the price range, one could

differentiate between low-cost vehicles and high-end luxury
cars — both of which would be considered part of the
passenger vehicle market but may need to be analysed
separately due to their significant differences in cost and
features. Additionally, performance features such as fuel
efficiency or driving experience should also be considered
when defining a market to gain a detailed understanding of

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 how each product compares and stands out.

When creating a BCG matrix, accurately (and thoroughly)

defining the market is essential, since incorrect definitions
can lead to misclassifications that distort an accurate portfolio
assessment. Considering various aspects related to specific
product types helps ensure a more comprehensive analysis,
which is useful for better understanding business strategies
and developing effective decision-making processes going
forward.

Calculate the relative market share

This involves comparing the sales of your product to those of
your leading rival's product in a given year, and can be
measured either in terms of revenue or unit volume. To
calculate this, take the product’s sales for that particular year
and divide them by the sales of its leading rivals.

Let's take the automobile industry as an example. In one year,

the competitor had a 25% market share of the sector, and
your company's brand stood at 10%. To calculate your relative
market share, take your company's brand total sales (10%)
and divide them by the competitors' total sales (25%). This
gives us a result of 0.4 for our relative market share, which
will be placed on the x-axis of our BCG matrix.

It is important to remember when discussing specific markets

or industries with different global players that there may not
be a single "leading rival." In these cases, you would use an
average value from all competitors within that sector to get a
more accurate representation when calculating relative
market shares — rather than just focusing on one solely
dominant player within an industry.

Find out the market growth rate

The market growth rate demonstrates the potential
opportunities for firms to expand their market share. This

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 information can be found through free online sources, such
as business journals and financial reports of leading firms in
the industry.

The market growth rate can also be calculated by

determining the average revenue growth of the leading
companies within that specific sector or market. The
calculation involves subtracting the product’s sales this year
from the product's sales from last year, then dividing them by
last year’s sales to get an estimated percentage. A positive
outcome usually indicates that there is a growing demand for
that product, while a negative result indicates lower demand
than before.

Markets with high growth are ones where the total market
share available is expanding rapidly; therefore, they present
good opportunities for companies to make money and
develop competitively. Finding out what percentage of
increments each competitor has experienced over time can
provide corporations with key insights into how well
competitors are doing relative to them and if any strategies
need to be implemented to stay ahead in terms of customer
demands or preferences.

Draw the circles on a matrix

Once you have calculated the relative market share and
industry growth rate for each of your brands or products, it is
time to plot them onto a matrix. The x-axis of the matrix
should represent the relative market share, and the y-axis
should reflect the industry growth rate.

For each product or brand, draw a circle whose size roughly

corresponds to the proportion of revenue it generates — the
greater a product's revenue stream, the larger its circle will
be. This can either be done manually using a paper/pencil
approach or, if you are using a spreadsheet program such as
Excel, you could use shapes such as circles or squares and

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 place them on the graph according to their values. You
should make sure that when drawing these circles, they do
not overlap one another so that it remains visually clear
where each unit/brand/product lies on the BCG matrix.
It may also be useful to list out all your units/brands/products
in order from the highest relative market share to the lowest
along the bottom side of the matrix so that it’s easier for
viewers to quickly identify the industry leader.

Limitations of a BCG matrix

The main limitation of the BCG matrix is that it only uses two
dimensions, relative market share, and market growth rate, to
measure the performance of products or business units.
Although these two aspects may give insight into a business's
competitive standing, they are not the only indicators of
profitability, popularity, or performance.

The BCG matrix does not take into consideration the

potential benefits from collaboration (synergy) between
brands; usually, one brand can enhance another in terms of
brand recognition or general awareness, which may result in
greater profits than each individual unit could generate on its
own. Furthermore, businesses with a low market share can
be profitable, too — even if their products do not have as
large a market as those with high shares. A high cost goes
into getting a high market share, which does not always lead
to higher profits.

At times, dogs may help other products gain a competitive

advantage by making sure competitors do not enter certain
markets easily due to excess capacity in those industries,
created by dogs at relatively great costs for them. In addition
to this, the model does not take into account small
competitors that are experiencing rapid growth in terms of
their market share, which need to be taken into account
when assessing an organization’s portfolio performance since
these players can quickly become serious contenders for

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 future success and pose threats moving forward.

Marketing mix / 7 Ps model

The 7Ps marketing model is a comprehensive framework for
designing and implementing a successful overall marketing
strategy. It helps firms identify their key competitors, as well
as recognize opportunities to create or improve their
strategies. The model was originally developed in the 1960s
by E. Jerome McCarthy and has since been popularized by
Phillip Kotler and other marketing experts.

It consists of seven distinct Ps — product, price, place

(distribution), promotion, people (staff), process, and physical
evidence. Of these elements, the first four are considered
"core" components of a complete marketing mix, while the
latter three are often added to conduct a more thorough
competitive audit. Each “P” can be broken down further into
sub-categories that need to be addressed if the company is
going to craft an effective strategy for selling its products or
services.

The evolution from 4Ps to 7Ps

The evolution from 4Ps to 7Ps has been a reflection of

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 growing consumer power and competition in every industry.
Jerome McCarthy's 4Ps model was created for B2C
businesses in 1960 and included product, place, price, and
promotion as its four elements. Bernard H. Booms and Mary
J. Bitner expanded this model in 1981 by introducing three
additional Ps into the mix: people, process, and physical
evidence — creating what we now know as the 7Ps marketing
mix.

This expansion of the original model took consumer trends,

new technologies, and customer service into account,
recognizing that "product" no longer referred solely to
physical goods but could also refer to services or prospects.
This shift allowed for a greater focus on customer service
within a marketing strategy and meant that businesses had to
become much more attentive to customer needs to
adequately compete in their respective industries.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 In 2021, Dave Chaffey further refined the 7P’s model by
applying it specifically to digital strategies, allowing
companies utilizing online platforms access to modern-day
tactics while still relying on an established foundation like
McCarthy’s original 4Ps concept.

It can be argued that despite being nearly sixty years old, it is

just as relevant today within any given industry or field where
marketing plays a major role as when first conceived, given
its versatile nature when applied thoughtfully across
businesses both big and small alike; showing its adaptability
over time with regard to changing technology yet staying true
to its core principles, which were established initially by
McCarthy a half-century ago.

When to use it?

When to use the 7 Ps model of the marketing mix depends on
individual business goals. First, it is important to note that this
framework can provide valuable insight at any stage of your
marketing cycle; however, it can be most efficient when used
in specific circumstances.

If you are just starting and do not yet have a clearly defined
value proposition, then the 7Ps can help you draft one by
allowing you to analyze the competition to determine where

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 they are lacking and what they offer that could become part
of your unique value offering. Similarly, if an organization is
revamping its strategy or introducing new elements into its
current approach, then this model can help them identify
opportunities to differentiate itself from competitors in a
meaningful way.

In addition, using the 7Ps of the market mix during times

when there is new technology or shifts in consumer trends
and behaviors can also be beneficial as businesses strive to
adapt quickly and establish themselves among their target
audience.

If an organization wants to gain a deeper understanding of

how consumers perceive and interact with their product or
service offerings, then this framework provides a useful tool
for managers looking for feedback based on customer
engagement metrics across each element.

How to use the 7Ps model in competitive analysis

The following may be useful in the process:

Products/Services
Products/Services involve looking at the types of products
and services offered by competitors. Evaluate what they are
offering to consumers, how they are packaged and
presented, and how they match up to your products or
services. Are their products similar in scope? Are there
differences that you can leverage in any way?

When assessing a competitor's offerings, it is important to

compare the technical specifications of each product. Also,
assess their prices and quality against your offering. Think
about the market position (premium vs. discount) and overall
design, as well as extra features such as after-sale support or
maintenance services, warranties, etc. Additionally, you could
also research customer satisfaction levels for particular

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 competitors' products or services, either through a survey
approach or using independent review sites such as social
media platforms and forums.

Keep an eye on competitors' attendance at conferences,

congresses, and trade shows to stay on top of their
advancements; these events typically provide the opportunity
for competitors to showcase their new technologies and
innovations. Make sure you are aware if any competitors
have filed patents recently so that you can stay ahead of the
game when it comes to technological advances in the market.

Price/Fees
To properly analyze competitor pricing strategies and assess
the competitive landscape, it is important to ask questions
such as: What are the competitors charging for their products
or services? Are they offering discounts, bundled offers, or
packages? Do they provide any special terms of sale or
financing options? Are there other fees associated with
purchasing from them (e.g., shipping costs)?

It is also important to establish your pricing strategy relative

to your competitors' — this is where understanding what you
can offer that differentiates you from the competition
becomes vital. By assessing your competitors' prices, sales
terms, and packaging models side by side with your offerings,
you can better understand how pricing affects market share
and ensure your price points remain competitive.

Additionally, many companies use a price-setting strategy

called “value-based pricing” when setting prices that reflect
not just the cost of goods sold, but also their perceived value
in comparison to competing providers. Understanding what
customers consider valuable in each product category and
how various competitors stack up against one another helps
determine which areas you need to adjust to maintain a
strong price-to-value ratio. Ultimately, establishing an

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 appropriate pricing model allows you to maximize revenue
while staying profitable and attaining sustainable market
share amongst industry rivals.

Place/Access
Place (or access) in the 7Ps model is a component that
considers the actual locations where potential customers can
purchase products or services. It would involve analyzing
both physical stores and websites at which customers can
make a purchase. In competitive analysis, it is important to
research where your competitor's customers can make
purchases, as this may give insight into their reach and
influence within the market. It could also point to ways you
could potentially expand your customer access points.

For example, if your competitor has physical stores all over

the world, but you only have one store in your city and an
online e-commerce website, there may be an opportunity for
you to increase your presence through more physical stores
or more online presence. This part of the 7Ps model involves
understanding where each potential customer makes a
purchase from, how many intermediary steps/people are
involved in the process, and whether changes can be made
to improve this system or not.

When considering a physical location for a store or outlet,

factors such as location and visibility are essential elements
in attracting customers. Characteristics of eCommerce
platforms like user experience (UX) design should be
carefully considered when selling products through digital
channels. It’s important that prospective buyers can easily
find the item they want within the website without struggling
to navigate around the platform. Considering different
payment methods and offers may help lure interested
individuals into completing a purchase with you rather than
your competitors.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Promotion
Promotion refers to the methods and channels used by your
competitors to market their products or services. Companies
use these tactics to make themselves seen, build an
audience, and increase sales. When using the 7Ps model in
competitive analysis, it is critical to assess how your
competitors are promoting their businesses.

To start, consider what methods your competitors are using to

promote themselves. Do they run paid ads on various
platforms like Google Ads or Bing Ads? Are they present on
social media? If so, do they actively engage with customers
and post updates frequently? Do they employ SEO strategies
such as keyword optimization or backlinks? Examining these
tactics closely will help inform your promotional strategies for
maximum impact.

You should also investigate who your competitors’ target

audience is. Knowing this can provide valuable insights into
the messages you should be presenting about your product
or service and the type of ad targeting that would have
maximum success. It's also important to look at both
e-commerce stores and physical stores when assessing
promotion efforts, since many companies now have an online
presence in addition to brick-and-mortar locations.

Analyzing key metrics such as website visits, impressions

generated from ads, and social media posts can also help
you determine which promotional techniques are working
best for them, allowing you to benchmark against their
success and adjust accordingly if needed. The same goes for
wider market trends — staying up-to-date with industry news
can alert you to changes that may affect your marketing
strategy, so you can stay ahead of the competition effectively.

Physical Evidence
Physical evidence refers to tangible products or services that

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 help signal to customers the quality of the experience. The
physical evidence can range from something as simple as a
store’s layout, staff uniforms, and printed menus for a
restaurant to product warranties or certifications for
manufacturers.

For restaurants, physical evidence is all about demonstrating

to customers that they will receive quality food, service, and
atmosphere when dining there. This could be achieved
through an attractive design layout, smart uniforms for staff
members, or giving visitors high-quality printed menus with
detailed descriptions of each dish on offer. These physical
elements create positive associations with customers that
contribute to their overall perception of the restaurant’s
experience. Even online reviews can act as physical evidence
if they shine positively on a restaurant's offerings.

In manufacturing, product warranties are important physical

evidence components that signal quality. A warranty serves
as an assurance that a company stands behind its products
and services; this helps demonstrate trustworthiness
between customer and business, and also shows that
manufacturers believe in their products enough to guarantee
them against defects or mishaps of any kind. Quality
certifications are another form of physically evident proof
provided by manufacturers that help ensure customer
satisfaction; these show that certain standards have been met
with production processes, which adds extra peace of mind
for potential buyers looking into purchasing goods from
certain companies over others.

Processes
Processes refer to the ways a company organizes activities,
operations, and processes so that it can best deliver its
product or service to its customers. Examining the
organizational structure, packaging of goods, distribution
process, customer support, and any other processes

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 associated with providing a service or product is crucial. The
quality of these processes should be examined when using
the 7Ps model for competitive analysis.

The quality of a company’s processes will have an impact on

customer satisfaction; high-quality processes ensure that
customers receive their products quickly and effectively with
minimal frustration or confusion about how to use them
properly.

You should look into what your competitors are doing in

terms of their process structures and create better systems if
possible — such as automation to speed up production lines
or introducing faster delivery methods like express shipping.
Evaluate customer feedback closely — do they voice any
issues with receiving the product? Are they dissatisfied with
anything regarding the order fulfillment process? This all
plays into a company’s competitiveness, as customers tend to
prefer businesses that offer quick and smooth transactions
from start to finish.

People
People are an integral part of the 7Ps model, and their
inclusion is essential for analyzing a company’s competitive
position. To assess customer satisfaction with competitors’
customer service, it is critical to evaluate reviews from
customers about their experiences and whether they had
negative reviews indicating a bad experience or not.

It is also key to consider a company's or brand's reputation.

How does the target demographic perceive the competitor?
Are there any negative perceptions or stereotypes associated
with them? It is also important to review existing customer
feedback so that you can identify areas of weakness where
your offering may be able to better meet customer needs and
how these weaknesses could hinder competitors' ability to
retain customers. Customer feedback should be analyzed

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 carefully, as it can provide valuable insights into how products
and services are perceived in the market.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 WHEN SHOULD YOU DO A
COMPETITOR ANALYSIS?

It is important to keep track of your competitors frequently,

but it is especially beneficial to do a comprehensive
comparison at certain times, like the following:

Starting a business
When starting a business, it is important to do a competitor
analysis before you proceed and launch your venture. This
will provide you with an understanding of the industry that
you plan to enter or disrupt. Knowing who else is entering the
space as well as what big players are already established in
the market can help inform decisions about strategy, product
development, and marketing.

It is essential to have a full understanding of who your direct

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 competitors are, the leading players in the competitive field,
and any possible competitors from related industries, as
investors will probably wish to know what rivals are present.
This can help anticipate possible issues down the line if other
businesses become more successful in your space or join in.
It may be beneficial for those launching a business to conduct
a "SWOT" analysis of themselves as well as their direct and
indirect competition.

A competitor analysis should also include an evaluation of

pricing models, including costs associated with the main
features/products offered by each player, to determine where
they stand on price points compared to one another. Factors
such as customer loyalty could be evaluated from surveys
and interviews conducted with existing customers of
competing companies.

By having access to this information prior to launching your

business, you can better understand who is leading the
market, which allows entrepreneurs time for strategic
planning when developing their own products/services for
release onto the market, taking into account how this will
position them against current offerings.

Launching a new product or

service
When launching a new product or service, it's important to do
a competitor analysis first. By understanding what your
competitors are currently offering, you can create something
that is uniquely different from anything else on the market.
This will also help you determine how to craft effective
messaging and marketing strategies around your product that
differentiate it from those already available to have a
competitive edge.
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 In addition, tracking the success of competing products can
provide insight into areas where they may be lacking that you
can potentially take advantage of in order to benefit your own
launch.

For example, if their product has been successful but only

offers certain features and functionalities, this may allow you
to expand on those areas while providing customers with
additional benefits they may find more appealing than what’s
currently available in the market. It also allows you to gain an
overall understanding of how popular similar offerings are
among consumers before launching your own so that you can
better prepare for any challenges ahead.

If you’re considering a pivot

Competitor analysis is a critical step to consider when you're
looking at making a pivot. Gathering information on
competitors can provide important insights into whether the
pivot is worthwhile and feasible or not. It also helps you
identify potential barriers and opportunities associated with
shifting your product, service, or market.

When conducting a competitor analysis for a potential pivot,

it's important to consider the current state of competition in
the industry as well as any potential changes that could occur
when entering the new space. Consider factors such as
market size, existing players, competitive strategies (including
strengths/weaknesses), pricing models, customer
demographics and needs, the regulatory environment,
technological trends, etc., so that you can best prepare for
any additional competition that may arise after pivoting.

Depending on the extent of the pivot, it may be necessary to

conduct research as if you were launching a fresh business.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 It's also helpful to weigh how likely it is for new companies to
enter the space post-pivot — research what other firms have
done in similar markets and look out for signs such as
increasing investment activity, shifting consumer behaviors,
or emerging technologies impacting the entry of new
entrants.

All this analysis will help you decide if now is the right time for
a big transformation in your firm, and will also make you
aware of any perils connected with implementing such a
move. This way you'll be able to forecast future competition
more accurately so that you can plan better preparedness
measures (for example marketing campaigns). Also, make
sure you stay abreast of changes happening in your target
market so that any sudden shifts won’t catch you off guard.

A stagnating business
When a business is stagnating, it's important to conduct a
competitor analysis to identify potential areas of opportunity.
This can provide valuable insight into why your competitors
may be experiencing success, or what new tactics they may
be using that you're not aware of. By understanding the wider
industry trends and any innovative techniques, your
competitors are employing, you can adjust accordingly,
allowing for an increase in market share and customer base.

By performing a competitor analysis, you can pinpoint

problem areas in your own business strategy and potentially
find solutions for them. A competitor analysis would reveal
any unique value propositions that other businesses are
offering, such as lower prices or better customer service. This
information could help you adjust your own pricing structure
or services so that they become more competitive and attract
more customers. Doing this type of analysis can also help you
develop a more effective marketing strategy by revealing

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 what methods are working for your competition and what
techniques need improvement to gain an advantage over
them.

Drop in organic traffic

When a website experiences a drop in organic traffic, it can
be indicative of a competitor taking advantage of its SEO and
keyword analysis. Regularly monitoring competitors can give
you an idea of what keywords they are using for their
content, or if their meta information has been changed to
improve its relevance in search results. As such, this is the
perfect time to do a competitor analysis, as any changes
made by them may help explain the decrease in organic
traffic that your website is experiencing.

If you want to stay ahead of the competition and improve

your online visibility, you must understand how your
competitors are optimizing for keywords, popular topics, and
other aspects of SEO. Tracking organic traffic can help
determine if there has been any change in ranking or
relevancy due to these changes by competitors. With a
competitor analysis, it’s possible to narrow down what
specific changes have been made so that you can better
optimize and keep ahead of them all while increasing organic
traffic as well.

You should begin by conducting research into which

keywords relevant to your site have seen an increase or
decrease in usage. You should also keep track of how those
keywords are being used — which websites are coming up
under searches for those terms, how often they’re appearing,
and whether the content listed is pertinent to yours. Also,
compare backlinks between sites, as well as pay attention to
things like social media activity and blog post frequency.
These pieces of data will help you determine which sites

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 have higher visibility than yourself with regard to specific
searches and how this influences overall traffic levels.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 HOW TO DO A
COMPETITIVE ANALYSIS?

Determine who your

competitors are
Determining who your competitors are is an important first
step in any competitive analysis. It helps to understand what
strategies may be successful for similar businesses and
ensure that the comparison data gathered is accurate. For a
competitive analysis, it's key to distinguish between direct
and indirect competitors.

Businesses that provide an identical product or service as

yours and do so in the same geographic region are
considered direct competitors. To determine who your direct
competitors are, consider companies that offer a substitute
for your product or service and have access to the same
target audience as you. It is important not to confuse direct
and indirect competitors. Indirect competitors provide
products that fill the same customer need, but are vastly
different from the products you produce or services you offer.
For example, while two subscription-based clothing brands
may serve a similar target audience, they would be
considered indirect competitors if one focused on everyday
outfits while the other solely sold workout attire.

It is critical to concentrate primarily on comparing metrics

between businesses in your industry, as what is successful for
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 one may not necessarily be the same for yours. Additionally,
indirect competition should remain on your radar, since these
companies could suddenly transition into being direct
competitors; running routine competitive analyses will help
you stay informed about any changes that occur in the
market.

How to Select Competitors for Analysis

Customer (WHO)
When selecting competitors for analysis, it is important to
consider the customer, or target customer, and companies.
The “customer” in this case can be both individuals and
organizations that may purchase, or are likely to purchase,
the company’s product and/or service.

For individual customers, identifying key characteristics such

as age bracket, gender, income bracket, or lifestyle should be
taken into consideration when determining who your target
customers are. Knowing who you plan on targeting will help
determine which competitors should be included in the
analysis. Understanding customers’ needs and wants will also
help better understand their purchasing behavior.

For business customers (organizations), geographic location

and industry type can be used to assess potential buyers

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 within a certain demographic or company size range.
Researching data on where their current customer base is
located can provide insight into areas with more potential
growth opportunities for the company's product or service
offerings. Furthermore, researching which industries may
have an interest in what your company offers will provide a
better indication of who should be analyzed as possible
competition.

Properly defining and understanding your target consumer

base — whether they are individuals or businesses — is key
when selecting competitors for analysis purposes, enabling a
more precise reading of the competitive landscape.

Problem (WHAT)
When selecting competitors for analysis, it is essential to
identify the core problem that a product solves for its target
customers. A company should understand what problems its
customers have and how the product or service can help
them solve those problems.

By understanding what common customer issues your

competitors are successfully solving, companies can analyze
which strategies are most effective at gaining customer
loyalty and creating satisfied customers.

Understanding customer needs also allows companies to

create more effective products and services that differentiate
from the competition by providing features or services that
others don’t offer. Suppose a company is aware of the
specific problems its target audience faces. In that case, it
may be able to tailor existing solutions (or develop new ones)
to provide a better user experience.

Product Category (HOW)

It's important to identify the specific product categories that
are relevant to the solution you are providing and use them

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 as criteria when selecting competitors. To identify the most
relevant competitors for your analysis, consider how your
offering fits within its category, and then research other
companies that offer similar products or services.

An important component of product category selection is

evaluating whether there is something special or unique
about your offering compared to others. Do you have a
specialized/unique method or technology for addressing the
problems of your target market? Can you provide better
features than those offered by your competitors? Asking
these questions will help you determine if any unique
characteristics differentiate your product from those of your
rivals, which could give you an edge over them during the
analysis process.

In many cases, finding different types of competitors — those

with similar pillars as you and those with complementary
offerings — can be beneficial when conducting competitor
analysis because it allows you to gain insight into how
customers may view and purchase their desired solutions.
For example, understanding why customers choose one
company over another based on their offering structure can
provide helpful information and insights into optimizing
pricing strategies, development cycles, promotional tactics,
etc., among others, so they align with customer needs and
wants.

Direct competitors
Direct competitors are those that provide goods or services
that are similar to your own and target the same type of
customers. These companies should be viewed as immediate
rivals, since they can be seen as the most direct threat when
it comes to market share and profitability.
For example, McDonald’s is a well-known fast-food restaurant
chain. Its direct competitors include other popular fast-food
burger chains like Wendy’s and Burger King. These three

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 companies all sell similar products (hamburgers, fries, etc.)
and generally target the same customer base (those looking
for quick meals on the go). As such, these three restaurants
can be considered direct competitors of one another
because their businesses fulfill very similar needs in terms of
product offerings and customer bases.

Identifying direct competitors helps you better understand

what sets your business apart from the competition and how
you can distinguish yourself from them to gain an edge in
market share and profitability. By familiarizing yourself with
these main contenders, you will have a better understanding
of what strategies may help you gain an advantage over
others vying for the same customers. This knowledge can
then be used to create unique selling points for your product
and adjust the pricing accordingly so that it stands out among
competing brands within that sector.

Secondary/indirect competitors
Secondary/indirect competitors are businesses that offer
different products or services than those you provide, but fall
into the same general category. For example, a winery and
brewery are secondary competitors due to their shared
alcohol production and sale. These competitors may not be
as competitive in terms of price, quality, or product offering,
but they still pose a threat due to the overlap in their target
customer base.

Secondary/indirect competitors can often be found

competing for similar audiences by marketing their products
within the same industry vertical or in similar locations. It is
important to consider these indirect competitors when
developing your marketing plan since they can still potentially
draw customers away from your business if they offer
something unique and attractive to them, such as better
pricing, higher-quality product offerings, specialized customer
service, etc.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 It's also important to note that these rivals don't necessarily
need to already exist; new entrants into the market can
compete with your business by providing innovative products
or services that appeal directly or indirectly to the customers
you're targeting. Staying up-to-date with industry trends and
developments is key, so you know who else may potentially
enter this space in the future and begin competing more
directly with what you offer.

Substitute competitors
Substitute competitors are competing for products or
services that exist outside a company's normal product
category, but still, satisfy a similar customer need. For
example, McDonald’s might consider any other type of fast
food restaurant an indirect competitor since they satisfy the
same customer need — hunger. But it should also consider
frozen meals and takeout options from grocery stores as
potential replacement competitors, since these products can
be used to satisfy the same need for convenience-based
meals.

To identify substitute competitors, you must think more

broadly about your target market. Start by looking at what
else could possibly serve the same purpose as your product
or service, such as alternative movie-watching services that
other customers might use instead of Netflix. Talk to
customers to understand what they’re using when they have
no access to your product or service, and use research tools
like Google Trends and surveys to gain insights into popular
alternative solutions in the market. Additionally, look out for
new entrants offering potential substitutes with innovative
features that make them attractive alternatives over existing
ones.
It is important to keep in mind that while identifying substitute
competitors may be difficult, understanding their presence in
the market is crucial for staying competitive as a business

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 and having the edge over others. Knowing who these
replacement players are and keeping track of how much
threat they pose can help you adjust your strategies
accordingly before these alternatives become mainstream
solutions.

Gather information about your

competitors
Once you have figured out who your competitors are, assess
them based on the four Ps of the marketing mix: what type of
product is being sold, the pricing strategy, how it is promoted,
and where it is distributed.

Products
When gathering information about your competitors, you
should research their products in detail. Analyze their
products in comparison to your own by buying and testing
them. This allows you to really understand the quality of the
products and what features do or don't work well. Ask
yourself if the product is well-made with good materials — are
there any defects? Remember that they won’t necessarily be
perfect, but assessing how they measure up against yours
can help you improve your offerings.

Take a look at each competitor's key features and note how

they compare to yours. Ask yourself questions like: Are their
features more attractive than mine? Are theirs’ more
user-friendly? What options do they offer that I don't have?
Are these features cost-effective for your target customers?
It's also important to check out customer reviews on sites like
Amazon or Yelp so that you can get an understanding of what
people think about the product from an impartial viewpoint.

By comparing competitors' products directly to yours, it

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 should give you some insight into where their strengths lie
compared to yours, allowing you to make improvements
where necessary.

Pricing
Knowing what your competition prices their products and
services at can help you better understand where they fit in
the market, as well as give you valuable insights on what
pricing strategies and discounts may be necessary for you to
be competitive.

When looking at your competitor's pricing, it is important to

take into account whether their prices vary for channel
partners and customers. This could involve lower costs for
channel partners due to larger volume purchases or
discounts given out due to loyalty programs. It is also
important to look into their discount policy — do they provide
any bundle packages or discounts on certain items? Can they
provide a greater discount upon request? Understanding the
answers to these questions can help inform your pricing
structure.

In addition, estimated cost structures can be helpful in

understanding how that competitor operates their business
model. Calculating the manufacturing cost of goods sold
(COGS), and overhead expenses such as rent, utilities,
employee wages, etc., all help build an overall foundation of
how much profit a competitor stands to make from each sale.
From there, it might also be possible to estimate a price
markup percentage, which may offer even more insight into
their strategy if needed.

Place
Place refers to the geographical region in which a business
operates and provides its services. When researching

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 competitors for your business, it is important to consider their
geographic reach and service area compared to yours. First,
you should determine if they cover the same markets as you
do, or if they have a wider reach than you. Analyzing the
places where your competitors offer services and products
can give you valuable insight into how your product or
service must measure up against theirs for you to stay
competitive in each region.

For example, if a competitor of yours has a larger presence

than you do within their local market and surrounding areas, it
might be useful for you to analyze what makes them
successful there. This could include things such as pricing,
customer loyalty programs, advertising strategies, etc., that
are specific only to that particular region where they
successfully compete against other businesses.
Understanding this information can help inform decisions
regarding how best to craft your marketing strategy so that
you can remain competitive in those regions, too.

Promotion
To understand how competitors are promoting their
businesses, it is important to analyze the various marketing
tactics they are using. One way to examine their promotions
is to see what strategies they are using on social media
platforms like Facebook, Twitter, Instagram, YouTube, etc.

For example, are they using sponsored ads or organic posts?

Are they providing discounts or special offers for followers? It
can also be beneficial to look into what content resonates
with their target audience, which is also your target audience.

Pay attention to other channels such as email campaigns,

television commercials, print ads, and radio spots. It's also
important to check out the quality of the messages being
sent: Is the messaging clear and consistent across different
channels? What tone do they use when communicating with

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 customers? By taking all these elements into account, you
can get a better understanding of how your competitors'
approach promotion and what marketing strategies may be
more effective for engaging customers.

The idea of the four Ps has developed over time, so

considering additional elements is necessary. These can
include:

Positioning
Positioning is an essential part of understanding how your
competitors are differentiating themselves and targeting their
markets. To gain insight into this, analyze the websites,
product documents, brochures, and catalogs of your
competitors, as well as their social media content, to
understand their position in the market. Here, you should be
able to pick out who their target markets are — such as by
age or occupation — as well as what kind of unique selling
proposition they have.

What products do they focus on compared to yours? What

features make it stand out from other offerings? What are the
benefits that customers receive for investing in the product?
Who does your competitor use for marketing channels
(websites, ads, magazines, etc.) and why? All these questions
will inform you not only about how your competitor is
positioning itself, but also give insight into potential strategies
that could work for you, too. Also, consider how prices
compare between yourself and them as well — do they offer
lower prices or higher quality with a premium price tag?
Understanding these details will allow you to develop
effective pricing strategies that set you apart from
competitors in terms of value proposition positioning.

Reputation
When researching your competitors, it is important to take
into account their reputation and what people are saying

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 about them online. What feedback is being shared about your
competitors' products and services on online discussion
boards, social networking sites, and review websites such as
TripAdvisor? It’s important to use these platforms to get an
idea of how people perceive your competitors' products,
services, and overall brand. Reviews from customers will give
you an insight into the reputation of your competitors in
comparison to that of your own business.

Analyzing reviews can give you a feel for how competitive

you are within the industry. Are customers providing more
positive feedback towards one company compared to
another? Is there a certain service or product that consistently
receives higher ratings than yours? This information can help
inform decisions about improving marketing approaches, as
well as identify areas for improvement in terms of customer
satisfaction. Additionally, it is beneficial to identify areas
where reviews contradict each other; doing so can alert you
to potential weaknesses in the market where there may be an
opportunity for growth or expansion.

Studying competitor profiles on different social media sites

such as Facebook, Twitter, or Instagram can also offer further
valuable insight into their reputation. You should take note of
engagement rates (likes/shares) with posts regarding their
business or particular products and services they offer. Public
relations/branding initiatives through these channels are also
worth considering as part of this research process — this will
provide key details such as what kind of message they want
consumers to receive, and which values they prioritize most
highly when promoting their business.

People
The size of the competitor’s organization is an essential point
of comparison; larger organizations tend to have more

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 resources and more diverse capabilities, while smaller
organizations may be more agile when it comes to
decision-making and operations. It can also give insight into
how fast they can innovate and scale operations as market
conditions change.

To understand what kind of profile the competitor has, you

should look at their leadership team and management
structure, organizational culture, internal policies, diversity
initiatives, and recruiting processes. From these sources, you
will be able to build up an idea of the competencies that the
company values — whether they focus on technical prowess
or creative problem-solving, for instance — as well as the skill
sets that might be needed to effectively navigate its
organizational structure.

You can also get insight into whether there are any areas
where they lack expertise or need outside assistance from
vendors or consultants; this could indicate opportunities for
your own business if you specialize in those areas or have
developed unique solutions for similar challenges that others
don’t offer.

Partnerships
Knowing who a competitor is partnering with can provide
valuable information on their market position and network.

In terms of understanding who a competitor's suppliers are,

this may involve reaching out directly to those suppliers or
researching publicly available information such as press
releases and filings. This step lets you understand who they
partner with and who provides services or products for them.
With this knowledge, you can assess the size and scope of
the services/products being supplied and how that impacts
your competitor's operations and offerings.

It can also be useful in assessing how long a competitor has

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 been working with its suppliers — which could range from
short-term projects to long-term agreements — by looking at
press releases announcing the agreement and any follow-up
news regarding annual contracts, updates, or changes over
time. If a competitor has had consistent relationships with
certain suppliers over an extended period of time, it could
indicate trust between both parties, stability in pricing (which
could strengthen their competitive edge), and a healthy
supplier ecosystem that allows them to keep prices low while
still delivering quality goods/services on time.

Research your competitors'

sales tactics and results
Researching your competitors' sales tactics and results
involves digging deep into their past and present strategies.
First, ask yourself what the current sales process looks like.
Who are they selling to? What channels are they using to sell
through? Are they expanding or scaling down? Do they offer
affiliate programs? You can use the annual reports of publicly
owned companies to find out about their sales tactics.

Privately owned businesses may not have this information

easily accessible, so you'll need to do some research. Look
into customer relationship management (CRM) data as a
possible source of information from customers who have
considered buying from your competitor. Generate a report
displaying any potential deals involving a competing
business. If you don't have this data recorded already,
communicate with marketing and sales to initiate a process
where potential buyers are asked about any other companies
they're considering for purchase during the buying process.
Once these questions have been answered, investigate
further by looking at why buyers chose one product over
another or why customers ended relationships with that
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 company. Reach out to those who mentioned considering
your competitor's product or service, and ask open-ended
questions related to why they chose one company over
another or why they ended services with them in the first
place. This will give you insight into what attracts customers
and what might be turning people away from yours
specifically (such as price points or how involved their sales
team is). Additionally, pay close attention to any unique offers
that may draw prospects away from you, such as special
discounts, competitive pricing strategies, promotional
campaigns, etc.

If there has been an instance where you lost a deal, follow up

after the fact by asking questions such as: 'What services or
features attracted this prospect?' 'Was it price?' 'What
impression did our sales process leave on them?' Doing this
kind of research on competitors' sale tactics will ultimately
give you an idea of how competitive the market is for your
own business and arm you with enough knowledge so that
when it comes time for prospects to make their final buy
decision, your marketing team can counter effectively against
other brands on the market.

By getting feedback directly from buyers — both current

customers and those who decided against doing business
with you — your team can develop better strategies designed
specifically around addressing customer objections while still
highlighting what makes your product/service stand apart
from competing offerings.

Ensure you're meeting

competitive shipping costs
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Analyzing competitors’ shipping costs is an essential step for
any company in the e-commerce industry. Knowing what your
competitors are offering and staying competitive with your
prices can be a deciding factor when customers choose who
to buy from.

More than 68% of shopping carts are abandoned prior to

purchase, with the most common reason being expensive
shipping. To avoid this, you'll want to make sure your brand
offers reasonable shipping prices — or better yet, free
shipping — as per what other brands in the same industry are
doing.

If free shipping isn't possible for you, then consider other

means of remaining competitive — such as discounts on
holidays or special occasions, loyalty programs, and social
media giveaways. Doing so will keep customers engaged and
draw them back to shop with you again in the future. It's also
important to note that free shipping may not always mean
totally free — some companies offer free delivery if customers
meet certain conditions, such as reaching a minimum
purchase amount or buying within a specific period. This
could be something worth considering if you want to offer
something similar but need some way to gain back some of
the costs associated with delivering orders for free.

Analyze the landscape carefully before making any decisions

about changing up current practices to remain competitive
without breaking the bank!

Analyze how your competitors

market their products
Analyzing a competitor's website is the quickest way to get
an idea of their marketing efforts. Looking at relevant website
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 sections can help you identify the tactics they are using to
reach potential customers.

On the company website, take note of any blog posts or

articles that have been published. You should also look to see
if your competitor has published white papers, e-books,
videos, or webinars that discuss their products or services
in-depth. Podcasts, static visual content such as infographics
and cartoons, slide decks, FAQ sections, and featured articles
can all be indicators of marketing campaigns. It is also
important to check whether there are press releases present
on their site, as they can reveal information regarding any
upcoming product launches or major changes within their
company. Lastly, take a look at buying guides, data sheets,
and case studies, which could provide insight into how
successful certain strategies were for them.

In addition to web pages and content pieces, try taking an

inventory of both online and offline advertising materials used
by your competition (e.g., banner ads or print brochures).
Knowing what campaigns they’ve previously run will provide
insight into what channels work best for this particular market,
allowing you to adjust your strategy accordingly!

Take note of your

competition's content
strategy
Start by assessing the quantity and frequency of the items

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 they're producing. Look at how many pieces they have
currently published, such as blog posts, white papers,
e-books, case studies, etc. Then, take the time to determine
how often these assets are released — do they post
something new every week or once per month? If there is a
sizable backlog of content, it could mean that your competitor
has been consistently publishing for some time.

Next, evaluate the quality of their content. It won't matter how

often something is posted if it isn't providing any valuable
information. Choose several pieces from various topics so
that you can get a full view of what topics your competitor
may be trying to promote and generate leads from. As you go
through each piece, ponder questions such as: Is it accurate?
Are grammar or spelling errors present? How comprehensive
is it? What tone does it convey? Does it have elements that
make for easy reading, like bold headings and numbered
lists? Can anyone read their articles, or do readers need to
opt in first? Who wrote them — an in-house team, one
person/multiple contributors with visible bios attached to
them?

Finally, assess the photos and imagery used by this business

in comparison to yours; consider things like if they rely on
generic stock photos or use custom illustrations/images
sourced from outside graphic professionals (or even done
in-house). By considering all these elements, you should gain
insight into whether their current content marketing strategy
is successful and ways you can incorporate similar practices
(and perhaps even improved ones) into your business model
to stay competitive.

Learn what technology stack

your competitors use
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Learning what types of technology your competitors use is
essential to helping your company stay competitive. Knowing
the types of software they use can provide insight into how
they operate and where there may be potential opportunities
to outperform them.

One way to gain this information is by using a free online tool

called Wappalyzer, which provides an overview of the
technologies and third-party plugins that make up different
businesses' websites. Simply type in a business's website
URL into Wappalyzer, and it will reveal all the technology
platforms and services their site runs on — such as analytics
systems or digital marketing tools. This way, you can learn
what kinds of software and techniques your competition is
using so that you can compete effectively with them.

You can learn about your competitor's technology by

observing the requirements of web development or
engineering job listings from their organization. Companies
often list the specific skills or knowledge required for the
position, which includes knowledge of certain tools or
applications related to those roles. By seeing which
technologies employees at competitors are expected to
know, you can get an idea of which software tips they may be
relying on more heavily than others.

Analyze the level of

engagement on your
competitors' content
To accurately assess the level of engagement on your
competitor's content, consider several factors. These include
the average number of comments, shares, and likes; the

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 sentiment expressed in comments; topics that resonate
better than others; and how frequently readers are tweeting
about specific topics. Additionally, you should review if their
content is categorized with tags or buttons to follow or share
via social media.

For example, if a competitor has many comments, but most of

them are negative, this could suggest a low level of
engagement. On the other hand, if they have fewer
comments but mostly positive ones, then it may indicate
higher levels of engagement overall. Similarly, if people are
consistently tweeting about certain topics, then this shows a
high level of interest from potential customers in those areas.

Look at their social media

presence, strategies, and go-to
platforms
To evaluate your competitors' social media presence, start by
identifying the social media platforms they use. Visit each of
these platforms and take note of their followership, posting
frequency, content engagement, and virality (number of
shares, likes, and comments). Analyze the type of content
they post — is it mostly original content, or do they share
curated sources? What is the overall tone of this content?
Also, pay attention to how often they interact with their
followers — do they respond to comments and questions?

Next, grade the quality of your competitor's overall social

media strategy using a grading scale. Compare this score
against that of other competitors to identify strengths and
weaknesses in your approach. By paying close attention to
what strategies work for your competition, you can apply

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 those same tactics for more successful campaigns.

Perform a SWOT Analysis

A SWOT analysis is a simple and effective way to assess the
competitive strategies of your competitors and your own
business. By performing one, you can identify what areas
your competitor excels in, as well as where they may have
weaknesses that can be exploited. You can also use it to
identify any opportunities or threats associated with their
activities that could potentially affect your own business.

When performing a SWOT analysis on competitors, it is

important to consider both their internal strengths and
weaknesses (such as resources available and prices offered)
as well as external factors, such as industry trends and
customer preferences.

As you evaluate each component of their competitive

strategy (business model, sales approach, marketing
campaigns), take note of how their performance ranks
compared to yours in these categories. Ask yourself
questions such as “What is my competitor doing well? What
advantages do they have over my brand? In what areas are
they lacking? How does my brand compare?” This will allow
you to see how well-positioned they are relative to your
business capabilities, so you can start to form an idea of
where either party has the upper hand or needs
improvement.

Once you have identified the relevant metrics within each

category (products/services offered; pricing and promotion;
customer service; content and social media strategy, etc.), list
out those findings in a document for easy comparison
between yourself and rivals:

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Comparing these lists with those attributes in your own
business can provide valuable insights into areas requiring
more focus or reconsideration, allowing for more strategically
informed decisions about how best to develop
products/services, refine pricing models, or establish better
relationships with customers than other players who may
offer similar offerings.

Determine your competitive

advantage
Determining your competitive advantage is a vital step in
conducting a competitive analysis. Your competitive
advantage is the distinctiveness of your company — it’s what
sets you apart from other companies in the same space. It’s
the edge that allows you to appeal to your target market and
gain an edge over competitors. To identify your competitive
advantage, look at both your strengths and weaknesses

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 relative to the competition. Analyze where you stand out, as
well as areas where there is room for improvement or
opportunities to fill a gap in the market.

For example, suppose you notice that your competitors are

all significantly higher priced than you. In that case, you could
use this as a weakness to emphasize how customers can get
better value for money with your products or services.
Conversely, if there’s something that makes yours more
distinctive or better than similar offerings from competitors,
such as superior customer service or innovative features, this
provides an opportunity to build a brand identity around
those strengths while giving customers something they won’t
find anywhere else.

Once identified, use this knowledge to inform and influence

strategic decisions moving forward. Build campaigns
emphasizing those unique points on which the business
stands out, and create initiatives that capitalize on any
weaknesses found within competitor businesses during
research. However, be sure not to rely too heavily on external
stimuli; instead, strive for consistent improvement across all
aspects of the business, independent of outside competition.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 WHAT TO DO AFTER
COMPLETING A
COMPETITIVE ANALYSIS

Now that your competitive analysis is ready, it's time to move

on to the next step: implementing your strategy. Take some of
the ideas you've come up with and start working on them
individually. Don’t try and emulate all of your competitors at
once — focus instead on a few strong points from each
competitor you analyzed. And, most importantly, don't forget
to constantly measure how well you're doing against your
chosen goals. Companies often get so caught up in their own
plans that they forget to compare how their results stand
relative to their competition. Make sure yours is always ahead
of the pack.

Completing a competitive analysis helps give businesses a

better understanding of their market landscape and position
among competitors — both current and potential ones. It
provides invaluable insights which can be used creatively in
order to come up with unique strategies that can help set
your business or product apart from others in its industry.

Using tools such as the Strategy Canvas allows teams to

break down competitors by various factors such as pricing,
service offerings, and features — giving added clarity into
where opportunities exist for differentiation or innovation
within existing markets or new markets altogether. Making
use of sound business methodologies like Blue Ocean

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Strategy will ensure companies are well-positioned for
success when competing against other players in their
industry — using research-based evidence and insights
instead of rolling the dice through trial and error alone.

Last but not least, it’s important not to forget about measuring
results against competitors over time — making sure your
products remain ahead or at least comparable in terms of
value proposition over time.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 COMPETITIVE PRODUCT
ANALYSIS

Product analysis is used to reveal the key distinguishing

factors between products that are vying for the same
customer base. Conducting this kind of comparison between
competitors can help you identify areas where you may be
losing potential customers, and make sure that you stay
ahead in your respective market.

Assess your current product

pricing
Assessing your current product pricing is a key step in the
competitive product analysis process. It’s important to answer
questions such as: Are your competitors' products priced
higher or lower than yours? Is there a difference in the pricing
metrics employed by you and them (e.g., per unit,
monthly/yearly subscription)? What is the difference in price
between you and your competitors?

To start off, it is recommended that you gather all relevant

data about competitor prices first, to understand how they are
positioning their products. This data should include the price
that each direct competitor charges for similar products and
services. After collecting this information, it will be easier to
compare different metrics in terms of value for money and
other factors like price elasticity among consumers — based
on who offers better quality for a smaller price with similar
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 features offered, etc.

It is also important to note whether your competitors have

adopted certain strategies when it comes to setting up their
prices; this includes strategies such as premium pricing (high
initial cost but low operating costs) or value-based pricing
(pricing according to the customer's perceived value). By
understanding this aspect of the market’s behavior along with
the actual prices charged by them, you can make an informed
decision about how much your own product should be priced
at.

Compare key features

This involves analyzing the features of your product and
determining how they are different from your competitors. It
is important to note the similarities and differences between
both products in terms of features, usability, quality, and other
areas. This will help you gain insight into how your product
stands out compared to your competitors' offerings.

When comparing key features, consider the range of

products each company offers and how each feature affects
the overall customer experience. Evaluate how well each
feature stacks up against its competitor in terms of cost,
usability/functionality, design/aesthetics, customer service
support offered, and any other distinguishing factors you may
find relevant to customer satisfaction.

Ask yourself: What makes my product better than that of my

competitors? Can I provide evidence to back up this claim?
Does my company have any distinct advantages that could
incentivize customers to choose me over the competition?
These questions will give you a better understanding of
which specific differentiators will position your product ahead
of others in the market.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Pinpoint differentiators
Differentiators here are features that your product offers that
make it stand out from the competition, allowing you to
emphasize its unique selling points. It's important to identify
what makes your product different and better than the
competition by looking at a variety of criteria. For instance,
you may want to consider which features set your product
apart from competitors, such as more advanced performance
or improved usability.

Quality differences can also be a key differentiator; for

example, if your competing products are manufactured using
cheaper materials with lower durability ratings, yours may
have greater longevity and be seen as the stronger option.
You should also compare the customer service experiences
available. Are there any incentives you offer that could sway
customers away from competitors? Cost savings might come
in the form of complimentary delivery or special discounts on
already discounted items.

Differentiators could also include things like having an app or

providing extra support options such as live chat or 24/7
access to customer advisors via phone. Ultimately,
understanding what makes your product stand out will help
you focus on those key factors when marketing your offering
and create a compelling message that resonates with
consumers.

Identify market gaps

This means understanding what customer needs are
unfulfilled and how your company can use those gaps to get
ahead of its competitors. Market gaps can be identified by
analyzing competitor offerings, customer reviews, industry
data, and customer feedback.
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 When looking for market gaps, it’s important to analyze what
features or services are missing from existing products or
services that could improve the customer experience or fill a
need that has not currently been met. You can also observe
how competitors interact with their consumers — this will
provide valuable insight into opportunities for improvement in
order to differentiate your offering from theirs and secure
more customers.

A market gap analysis should also include discovering

emerging trends within the industry as well as monitoring
current customer behaviors such as preferences, purchasing
habits, etc., so you can stay ahead of growing expectations.
Being aware of any emerging technology or innovative tactics
used by competitors should also be considered when
searching for potential opportunities to leverage your own
offerings.

By using all these methods together when performing a

competitive product analysis, you will have a better
understanding of where you stand in comparison with other
rivals and a crystal-clear idea of which areas need
improvement within your organization’s capabilities to remain
successful.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 TIPS FOR WRITING A
BETTER ANALYSIS

Below are a few suggestions to help you craft a more

polished and professional analysis:

Use a template for

professionalism and
organization
Templates are helpful for novice analysis writers, giving them
an organized structure and format for creating a polished
competitive analysis. Templates provide guidance on how to
best organize the information while also helping maintain
consistent formatting, such as fonts, page setup, spacing, and
alignment.

The template can help save time because it already contains

basic instructions that often need to be included in each
analysis section. Often these templates are customized
specifically for certain types of analyses, like a financial or
market analysis, which can be very beneficial for those just
starting out who may not be familiar with what should be
included in each category. Using a writing template also
helps produce high-quality documents that look more
organized and professional than ones that are put together
without any guidance from a template.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 Implement visual aids
Implementing visual aids into your analysis is an effective way
to increase the visibility and impact of your key points. Visual
aids can include anything from graphs and charts to
infographics and illustrations. This allows readers to have a
better understanding of the data or information being
presented in the analysis more efficiently than just text alone.
For example, if you are looking at trends within a certain
market, by utilizing graphs, you help display information by
showing high-level trends rather than looking exclusively at
numbers that are not as easy to process.

Implementing visuals along with an explanation or analysis

can help support any findings or conclusions that you make in
your competitive analysis. It also provides a break for the
reader’s eyes between long blocks of text, which makes
viewing the document easier on their end as well. The visuals
should be kept simple and relevant to what you are
discussing, so as not to overwhelm readers with complex
graphics that add little value but will detract from your
message.

Proofread your competitive

analysis
Proofreading your competitive analysis is an integral part of
the process. By reading through the analysis thoroughly after
completion, you can identify any mistakes and make
corrections accordingly. This may include correcting spelling
errors, improving sentence structure, rephrasing key points to
be more concise or effective, fact-checking important claims
and statistics, ensuring visual aids are properly formatted with
clear labels and descriptions as appropriate, as well as

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 checking to make sure all sources used have been attributed
correctly.

A thorough proofreading will help to ensure that your

competitive analysis is presented in a polished manner, which
reflects an attention to detail and helps you achieve
credibility when presenting it to stakeholders.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 CONCLUSION
Competitive analysis strategies are essential for any
business's success. A thorough analysis of the competition
allows businesses to understand their place in the market
and identify areas where they can improve. It should never
become a copycat game, as the goal is to use what
businesses are doing as an example of how to create
something even better than what is currently being offered.

Equally important is understanding what customers want and

need, which can be achieved through competitor analysis. By
providing better services than competitors, businesses will be
better positioned to increase customer loyalty and gain a
competitive advantage. Ultimately, successful competitive
analysis strategies allow businesses to anticipate the needs
of their customers and gain a clear understanding of their
competitors — ensuring they stay ahead of the competition
and remain profitable.

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 REFERENCES

The following references were consulted to create this Super

Guide:

➔ https://www.investopedia.com/terms/b/bcg.asp
➔ https://www.indeed.com/career-advice/career-dev
elopment/perceptual-mapping
➔ https://buffer.com/library/competitor-analysis/
➔ https://www.indeed.com/career-advice/career-dev
elopment/how-to-write-a-competitive-analysis
➔ https://www.feedough.com/what-is-a-bcg-matrix-ex
amples-how-to-guide/
➔ https://www.mindtools.com/at7k8my/porter-s-five-f
orces
➔ https://blog.hubspot.com/marketing/competitive-an
alysis-kit
➔ https://asana.com/resources/perceptual-map-templ
ate
➔ https://corporatefinanceinstitute.com/resources/ma
nagement/boston-consulting-group-bcg-matrix/
➔ https://miro.com/templates/bcg-matrix/
➔ https://www.linkedin.com/pulse/what-7ps-marketin
g-mix-how-should-used-zahra-zahedi
➔ https://www.businessnewsdaily.com/15737-busines
s-competitor-analysis.html
➔ https://www.cascade.app/blog/competitive-analysis
-frameworks
➔ https://anupambajra.medium.com/using-perceptual

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 -mapping-for-competitive-analysis-9aae239ec736
➔ https://blog.oxfordcollegeofmarketing.com/2020/1
0/08/understanding-the-7ps-of-the-marketing-mix/
➔ https://www.businessnewsdaily.com/5446-porters-f
ive-forces.html
➔ https://creately.com/blog/business/strategic-group-
analysis/
➔ https://www.meltwater.com/en/blog/competitor-ana
lysis
➔ https://www.businessnewsdaily.com/5693-bcg-mat
rix.html
➔ https://www.investopedia.com/terms/s/swot.asp
➔ https://www.businessnewsdaily.com/4245-swot-an
alysis.html
➔ https://www.indeed.com/career-advice/career-dev
elopment/strategic-group-analysis
➔ https://mailchimp.com/resources/what-is-competito
r-analysis/
➔ https://asana.com/resources/competitive-analysis-e
xample
➔ https://www.bdc.ca/en/articles-tools/marketing-sale
s-export/marketing/how-evaluate-competition
➔ https://www.wallstreetmojo.com/porters-five-forces
/
➔ https://www.sprinklr.com/cxm/competitive-analysis/
➔ https://www.semrush.com/blog/competitive-analysi
s/
➔ https://corporatefinanceinstitute.com/resources/ma
nagement/swot-analysis/
➔ https://www.ventureharbour.com/marketing-mix/
➔ https://www.smartinsights.com/marketing-planning/
marketing-models/how-to-use-the-7ps-marketing-

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 mix/
➔ https://www.mindtools.com/amtbj63/swot-analysis
➔ https://www.think-beyond.co.uk/why-you-need-a-c
ompetitive-strategy-using-the-bcg-matrix/
➔ https://www.mykpono.com/how-to-conduct-compet
itive-analysis/
➔ https://www.investopedia.com/terms/p/porter.asp

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
 ABOUT THE AUTHOR

Daniel Pereira is a Brazilian-Canadian entrepreneur that has

been designing and analyzing business models for over 15
years. You can read more about his journey as a Business
Model Analyst here.

E-mail Daniel if you have any questions

at: daniel@businessmodelanalyst.com
You can connect with Daniel at Linkedin:
https://www.linkedin.com/in/dpereirabr/

This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com

Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited
This PDF File was purchased by Vrinda - jatia.vrinda@gmail.com
Copyright The Business Model Analyst - https://businessmodelanalyst.com/ - Distribution prohibited