Competitor Analysis Report: Strategies, Matrices and Market Insights

This report provides a comprehensive analysis of competitor strategies, focusing on the importance of competitor analysis in business development. It emphasizes the need to assess competitors' strengths, weaknesses, and market positioning. The report explores key factors to consider during competitor analysis, such as product and service offerings, differentiation strategies, and marketing tactics. Furthermore, it delves into the Ansoff Matrix, detailing market penetration, product development, market development, and diversification strategies. The report also explains the Boston Matrix, categorizing products into stars, cash cows, question marks, and dogs, providing a framework for portfolio analysis and strategic decision-making. This report provides a thorough overview of essential business development strategies.

1

Competitor analysis
Competitor analysis in marketing and strategic management which is used to analyse the
competency, strength and weakness of existing and potential competitors. It is an essential
component of corporate strategy which helps to organisation in assessing competency of rivals in
the market. While any business enterprise enters in the market then it is very important to
analyse the available competitor's ability, strength and weakness. Thus, with help of competitors
analysis, any firm can able to acknowledge the tactics and strategy of competitors in the market.
Factors that should be looked at monitored when conducting a competitors
analysis
In an organisation, competitor analysis can help in knowing about the competitor's
strength and weakness and lets it to identify gaps in the market and potential opportunities for
organisation. While any business enterprise conducts competitor analysis for identify and
acknowledge the strength and competency of available rivals then it has to consider various
factors which are as follows- Their product and services- At the time of competitor analysis in the market it is very
important to consider product and services of that rivals. By acknowledging about the
product and services, firm can easily design its own strategy of product development. It is
very important to identify the product ad services of the competitors by which firm can
acknowledge that what are other doing and what it's pricing to identifying whom they are
targeting in the market. Their points of differentiation- In order to develop the future marketing strategies for
business, company should understand competitors point of differentiation. Every
company have its own business differentiation strategy through which it can distinguish
its product and services from its rivals. While any business unit conduct competitor
analysis then it is very important to identify differentiation strategy of rivals.
 Their marketing strategy- While any business enterprise conduct competitor analysis
then it is also very important to identify rival's marketing strategy. By acknowledging
other rival business strategy, firm can design its own strategy of business. This is very
crucial as it indicates to business how its competitors are positioning themselves.
2

Ansoff Model
The Ansoff growth matrix is one of essential marketing planning technique that aids a business
its existing strategy and products. With help of this matrix, business unit can design its growth
strategy for further growth and business development. In this matrix, there are main four growth
options which are as follows-
 Market penetration strategy- In this strategy, business unit focuses on selling existing
products into existing market. The major objective of market penetration is to maintain
and increase the market share of current products.
 Product development strategy- In this strategy, business unit introduce new products into
the existing market. This aids to company in improving its business performance and
growth.
 Market development strategy-In this strategy, business seeks to sell its existing products
into new markets. This strategy assists in replacing products with something better.
 Diversification strategy- In this strategy, business unit sell new product into the new
market.
Boston Matrix
Boston matrix is a technique by which portfolio of products can be analysed. In this
major four categories describes such as star, cash cows, question marks. The star category
defines high market growth, high market share, cash neutral. On the other hand problem children
includes low share of a high growth market. Cash cow includes the low market growth, high
market share, cash generating and harvest or milk. In the dog category include low market
growth, low market share, low market growth, low market share.
3