competitor array

[dimpy.handa]

One common and useful technique is constructing a competitor array. The steps include:

define your industry - scope and nature of the industry
determine who your competitors are
determine who your customers are and what benefits they expect
determine what the key success factors are in your industry
rank the key success factors by giving each one a weighting - The sum of all the weightings must add up to one.
rate each competitor on each of the key success factors - this can best be displayed on a two dimensional matrix - competitors along the top and key success factors down the side.
multiply each cell in the matrix by the factor weighting.
sum columns for a weighted assessment of the overall strength of each competitor relative to each other.

 

[swatiraohnlu]

Competitor analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough.