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What is Competitor Analysis in Marketing?

Netbasequid

On the surface, a competitor analysis helps brands identify competitors in an industry and reveals any winning marketing strategies. This intel can be benchmarked against your own data to give you a working idea of where you stand in the market. However, today’s competitive analysis goes well beyond that.

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3 Ways to Develop Market Intelligence to Benchmark Against the Competition Digitally

Cleverx

The goal of a competitive analysis is to monitor a competitor’s strategies; and benchmarking takes it one step further by following the activities of market leaders, gathering metrics, and then comparing the results against a company’s performance over time. Advantages of Competitor Analysis and How to Do it ?

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Outsmarting Your Rivals in the Market: Competition Analysis Tool

Netbasequid

Comprehensive competitor analysis surfaces new developments in the market, helping you stay informed. Competitive intelligence tools are hard-wired with capabilities to reveal your competitor’s strengths and weaknesses. Analyzing competitor performance can reveal insights about shifting consumer behaviors and preferences.

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Competitive Comparison: What It Is, Why You Need It, & How to Do It

Netbasequid

And a competitive comparison is a vital part of your company’s benchmarking efforts to stay a few steps ahead here. What does a competitive analysis offer and why does a brand need it? It provides metrics that matter – demographics, psychographics, sentiment analysis and even brand passion. Let’s check it out!

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How to Conduct Competitive Intelligence Research

Owler

Competitive intelligence research answers questions such as: What are my competitors’ strengths and weaknesses? How much do competitors charge for their product or service offerings? What advantages do they have that I don't have? To choose a suitable benchmark, you need a deep understanding of your industry or market segment.

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How Competitive Analysis Will Benefit Your Company

Owler

You can gain vital information from a critical analysis of your target market. Competitive advantages and limitations may be assessed and improved following an analysis, enabling your company to capture more market share and stay ahead of competitors. SWOTs are a simple but powerful tool.

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Social Media Monitoring vs Social Listening – Yes, There’s a Difference!

Netbasequid

In the former, you would just be more focused on current data, creating benchmarks as you go. To evaluate and tweak any campaign strategy, take advantage of emerging opportunities, and prevent potential eventual crises, you need real-time data and social media monitoring. Performing Competitor Analysis.