Competitor Analysis Sheet

A business needs to know about its competition if it wants to succeed and prosper. It must analyze its competition to pursue policies that overtake it. A business that knows about its competitors can develop better policies to gain an edge.

A company needs to consider growth opportunities while considering its competitors. A proper procedure needs to be present for this so that a company can learn all about its competitors and what they are doing. One document that can be considered here includes a competitor analysis sheet.

What is a competitor analysis sheet?

This sheet includes details about a company’s competitors, such as its headquarters, funding, investors, strengths, weaknesses, target audience, etc., so that the brand can know its position within the market. In this way, the company will know where it stands.

The sheet will include a brief profile of all a company’s competitors so that it can be known what they are doing. It will also let one know the company’s mission, revenue, target market, etc. In this way, a company can develop better policies to advance in the market.

Format: MS Excel Size: 20 KB

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Format: MS Excel Size: 20 KB

Download

This sheet must be made carefully to include all important information about the competitor brands. The following are some tips to help you make this professional sheet:

Relevant details:

The document needs a heading, such as “Competitor Analysis Sheet.” This heading will let people know what the document is about immediately. Include your company’s name on the document.

Include a table with relevant details:

Create a table to add information about your company and your competitors’ companies. You can have a column for each company that notes metrics that you are measuring in rows, such as headquarters, funding, investors, employee count, website, marketing strategy, strengths, weaknesses, opportunities, threats, product checklist, main product offerings, consumer base, price points, strategies, business model, etc.

You can have a column for your company to compare the information with the competitors. According to how many competitors you are looking at, you can have separate columns for each of them. In this way, you can easily compare all the information among all the competitors.

You must add the details to the table precisely and briefly so that there is no confusion for those who need to consult the sheet. Only include what is needed, and add the details you measure in rows under the company column. Enough room should be present to include the details.

It helps a company understand its competitor’s strengths as well as weaknesses

The sheet is important as it helps a company understand its competitors’ strengths and weaknesses. This can be compared to its own. In this way, the company can see where it stands amongst the competition and what it needs to do to advance. You can figure out how to better your business strategy to compete effectively with your competitors.

You will learn important information about other brands to figure out what policies to pursue to stand out in front of them. You will be able to get a competitive edge which will help you advance in front of these companies. A business will be able to identify its competitors and figure out any market gaps.

You can review competitor strategies to create a better marketing strategy that will help you reach out to your target audience directly and make them want to buy from you. In this way, a company will be able to improve its strategy. You will be able to comprehend your market when you analyze your company compared to the rest of the competition in the industry.

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Format: MS Excel Size: 20 KB

Download

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