What is a competitive analysis Marketing essay
5. Analysis and Marketing Mix Analysis Currently, two of Apple's biggest competitors in the smartphone market are South Korean and Chinese technology companies Samsung and Huawei. Samsung Mobile, which is currently best known for its large-screen Galaxy smartphones, has become one of the. Competitive analysis, also known as competitive analysis and competitive analysis, is the process of examining similar brands in your industry to understand their offerings, branding, sales and marketing approaches. Knowing your competitors in business analytics is important if you are a business owner, marketer, startup founder or if you are an entrepreneur. Competitor analysis is an effective way to understand the objectives of competing companies, namely by identifying their strengths and weaknesses. Competitive analysis for event planning allows you to identify event opportunities and consider the dangers associated with a particular business activity. Therefore, event organizers should: 4. Define your target audience. Know the unique characteristics of your customers and tailor your offers and marketing accordingly. 5. Identify barriers to entry. Know what stands in your way and take on challenges. 6. Make a sales forecast. Estimate future sales and make confident business decisions. Competitive analysis is the process of evaluating the companies, products and marketing strategies of your direct competitors. To make your analysis truly useful, it is important to: Choose the right competitors to analyze. Know which aspects of your competitors' activities are worth analyzing. Know where to look for the data.