Competitive analysis, its importance & what to include?

This section should provide an overview of the competitors because readers might also be interested to understand the competitive environment and the competitive advantage that will help the company succeed. It should include  three sub-section;

  • Direct competitors: The following details about the direct competitors must be provided to the readers namely competitors’ name, an overview of the competitor, products/services offered by them, pricing, revenues, their location and their key strength and weakness.
  • Indirect competitors: Further details about indirect competitors regarding what product/services they offer and at what price etc., should be provided.
  • Competitive advantages: This part should detail why the company outperform both direct and indirect competitors. Product/services, human resources, location, operational systems, intellectual property, customers and marketing are some of the areas where companies might have a competitive advantage.