There are several famous methods and techniques in the field of competitor

kegwig535

Several methods and methods can be used to understand and evaluate these new technical innovations introduced by competitors in the field, such as: Review new products and services. Analysis of the technology used. Monitor market response. Intellectual property rights monitoring. Compare technologies and innovations. 5. Competitor analysis In this step, companies analyze the strengths and weaknesses of competitors based on the information collected about them.

The most important of which is SWOT analysis. This analysis aims to identify the Phone Number Data strengths, weaknesses, threats, and opportunities facing companies and establishments. Despite the power of SWOT analysis, there are other methods that are equal in strength and importance in the field of competitor analysis, the most important of which are: a) PESTEL analysis The name of this PESTEL analysis consists of the first letters of each of the factors it analyzes, which are: Political. Economical. Social Social. Technological. Environmental. Legal Legal. This analysis aims to understand the external environment and identify potential influences on competitors' performance. b) Five Forces analysis Five Forces analysis is used to evaluate the competitive forces in a particular industry.



This analysis includes an analysis of the strengths of five forces: Direct competitors. Threat of substitute products or services. Purchasing power of customers. Supplier strength. Threat of entry of new competitors. This analysis helps in understanding the level of competitiveness in the industry and identifying the strengths and weaknesses of competitors. c) Value Chain analysis Value Chain analysis focuses on analyzing competitors' internal operations and analyzing the value chain they create. This analysis helps identify activities that companies can improve and achieve competitive advantage in. Value Chain analysis starts from analyzing the raw materials supply process through to the product distribution process and through processes such as marketing.