To write a good competitive analysis, you must:
* Be objective.
* Conduct fearless and thorough research.
* Write well.
If you're like most successful technical writers I know, you have these skills already. So, how do you put these skills together to do the job?
1. A competitive analysis covers five key topics:
2. Your company's competitors.
3. Competitor product summaries.
4. Competitor strengths and weaknesses.
5. The strategies used by each competitor to achieve their objectives.
6. The market outlook.
A List of Competitors
The analysis begins with a list of your company's competitors. Most of the time, such a list is comprised of what your company cconsiders to be its chief competitors. However, there may be other companies that indirectly compete with yours, ones that offer products or services that are aiming for the same customer capital.
You will also want to include information on companies that may be entering your market in the coming year. Once you have compiled the list, you can highlight those companies that will be the greatest challenge.
Competitor Product Summary
Analyze the competition's products and services in terms of features, value, and targets. How do your competitor's sell their wares? How do they market them? Customer satisfaction surveys conducted by the trade press can help you tremendously. How do customers see your competition? Ask your sales force for information -- they can be your best source of information about your competitor's customers.
It's likewise important to include information on how competitors distribute and advertise their products. You will want to talk about product quality and, where possible, find out how they are staffed.
