How to make a good analysis of the competition

If you are an individual entrepreneur or an entrepreneur who wants to open a new company or a new business, knowing how to analyze the competition can be key to deciding whether to open the company or not. An analysis of the correct competition is based on a series of steps to get to know the main competing companies better . In .com we explain the steps to follow to make a good analysis of the competition.

Steps to follow:

one

The first step would be to know the location of the company that we are analyzing.

two

Second, we should know the profile of customers who consume products or services from that company.

3

In the third place would be the delimitation of the dates and opening hours of the company of the competition that we are analyzing.

4

The fourth step would be to know how the company analyzed presents the products offered.

5

Fifth, we would have the description of the sales and distribution methods presented by the company analyzed.

6

Finally, we should know the weight, presence and influence of the analyzed company within the sector and the market.

Tips
  • These steps must be repeated for each of the competitors that we want to analyze.