Competitor Analysis Definition and Explanation PDF Download
Learn Competitor Analysis definition in marketing with explanation to study “What is Competitor Analysis”. Study competitor analysis explanation with marketing terms to review marketing course for online MBA programs.
Competitor Analysis Definition:
Process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Competitor Analysis Explanation:
Competitive analysis is also known as competitive research in which companies conduct research for the collection of information related to their rival companies. It is an essential analysis for the long term profitability of the company. It also helps to foresee company's financial growth for the coming years in comparison with market competitors.
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