Competitor Analysis. Identifying and establishing criterion of quality

Too Long; Didn't Read

Sometimes business idea grows from a seed of competitor analysis. Likely some people make a decision to have an own business because of inner comparing of the products on market, comparing features, that different companies are preparing for their user. It is really interesting what exactly drives people to make a business: strengths and obvious profit or some weaknesses and defects, that seems to them being easily improved? And to be extremely honest — we are making competitor analysis every time while we are choosing products in a market. Sure! We are making an analysis of strengths and weaknesses even while we are searching corn flakes for breakfast. And there is no big difference if you are making analysis for yourself to buy a product or you are making a professional competitor analysis for your business — in any case you should be observational and picking up the details.