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What is a Competitive Analysis?
A competitive analysis allows you to examine your competitor’s strengths and weaknesses so you can find market opportunities to grow your business. By analyzing the competitive market share and monitoring your direct competition on an ongoing basis, you’ll be able to:
- Quickly identify market trends and adapt your campaigns, marketing strategies and customer support to outperform the competition.
- Define your competitors’ (and your own) strengths and weaknesses, threats, and opportunities to define your competitive advantage.
- Understand high-level market opportunities and threats to reduce risks by creating data-backed solutions that highlight your unique value.
- Competitively build your brand by taking advantage of the gaps in the market.

XTENSIO TIP: Note that this is a hypothetical example and not an up to date market research document. This editable template will give you an idea of how your competitive analysis might look like. We always recommend you do your own thorough research to fill in the sections.
- Follow the Competitive Analysis How To Guide to conduct your own research and analysis. Match it with other strategic planning tools such as the SWOT Analysis and its alternatives, and Ecosystem Mapping. Findings from this analysis will also inform your Business Model and Brand Positioning.
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