A comfdgdgpetitive analygdfsis assessegdfgs your curredfnt or potential business competitors.gdf Todperform a cofdfmpetitive analysis, you must identify the other companies in your market that currently offer a similar product and thfgn analyze how dftheir products are positioned.

f resufdlts of a comgpetitive analysis help you leadgrn about current market trdfends, product dfnd service pricdfing, market saturation, industry best practicdes, market gaps, and business odgpportunities. Although a competitivedfg analysis is necdessary whengyou start a businessdg, you should also routinely performdf them throudghodfut your compandy’s lifecycle to keep your business competitive.d