Competitor Analysis Frameworks

Competitor analysis frameworks are essential for understanding your business landscape and gaining insights into your rivals.

SWOT Analysis: This classic framework examines a company’s Strengths, Weaknesses, Opportunities, and Threats. It helps you identify areas where competitors excel and where they struggle, allowing you to craft strategies accordingly.

Porter’s Five Forces: Developed by Michael Porter, this formidable framework assesses the competitive forces within an industry. It considers factors like supplier power, buyer power, threat of new entrants, threat of substitutes, and competitive rivalry.

Strategic Group Analysis: By grouping competitors based on similarities in strategy, market positioning, and customer segments, this framework helps you understand your competitive landscape better.

Growth-Share Matrix (BCG Matrix): This matrix categorizes products or business units into four quadrants: Stars, Cash Cows, Question Marks, and Dogs. It aids in resource allocation and strategic decision-making.

Perceptual Mapping: Visualize how customers perceive different brands or products relative to each other. It helps identify gaps and opportunities in the market.

Customer Journey Map: Understand the entire customer experience, from awareness to post-purchase. Analyzing competitors’ customer journeys can highlight areas for improvement in your own processes.

Any of these analysis could be a great starting point for a Digital Marketing Campaign. Choose the framework that best suits your industry and start your analysis. The more you know before you start you campaign the better planned and executed your campaign can be.