Question

What competitor information categories are useful in competitor analysis?

Answer 1

Competitor analysis is a matketing strategy to assess the competitor profile to determine the strengths and weaknesses of the competitor. This will help in formulating better strategies and policies and their implementation.
The competitor information categories important for competitor analysis are :

1. Background information which includes the company information, its history, branches, mission statement and aims.
2. Financial information of competitor which includes company profits, liquidity and cash flow.
3. Product information: this includes types of products and services offered by the competitor, their licenses and patents.
4. Marketing information such as marketing strategies, discounts, sales, advertising scheme.
5. Facility information such as plant capacity and efficiency.