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20 Business Competitive Analysis Terms

20 Business Competitive Analysis Terms

20 Business Competitive Analysis Terms

 

 

Welcome to our guide on the top 20 business competitive analysis terms!

In the fast-paced world of business, staying ahead of your competition is crucial. That’s where competitive analysis comes in – it allows you to gather valuable insights on your competitors and make informed decisions for your own company.

 

 

 

  1. SWOT Analysis – A strategic planning technique used to evaluate the strengths, weaknesses, opportunities, and threats of a business.

 

  1. Porter’s Five Forces – A model that identifies the five key forces that shape the competitive environment of an industry: bargaining power of suppliers, bargaining power of buyers, threat of new entrants, threat of substitutes, and intensity of competitive rivalry.

 

  1. Value Chain Analysis – A framework that examines a business’s internal activities to identify potential sources of competitive advantage.

 

  1. PEST Analysis – An analysis of the political, economic, social, and technological factors that may impact a business or industry.

 

  1. Competitive Advantage – The unique set of strengths and capabilities a company possesses that allows it to outperform its competitors.

 

  1. Core Competencies – The specific capabilities and skills that give a business a competitive advantage and contribute to its success.

 

  1. Market Share – The percentage of total sales in an industry that is captured by a particular company or product.

 

  1. Brand Equity – The value and strength of a brand, including its perception, recognition, and reputation among customers.

 



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  1. Differentiation – The process of creating a unique and desirable position in the market for a business or product.

 

  1. Cost Leadership – A competitive strategy that focuses on reducing costs and offering products at lower prices than competitors.

 

  1. Niche Market – A specific, smaller segment of a larger market that a business targets with its products or services.

 

  1. Innovation – The introduction of new ideas, products, or methods that differentiate a business from its competitors.

 

  1. Market Segmentation – Dividing a market into smaller groups based on characteristics such as demographics, behaviors, and needs.

 

  1. Target Market – The specific group of customers that a business aims to reach with its marketing efforts and products.

 

  1. Customer Lifetime Value – The estimated amount of profit generated by a customer over the course of their relationship with a business.

 

  1. Market Saturation – The point at which all potential customers in a market have been reached and the growth potential for a business plateaus.

 

  1. Customer Retention – Strategies and efforts to keep existing customers loyal to a business or brand.

 

  1. Competitive Benchmarking – Comparing a company’s performance, processes, and practices to those of its top competitors.

 

  1. Market Positioning – The way in which a business or product is perceived by consumers compared to other options in the market.

 

  1. Industry Analysis – An assessment of the overall industry and its trends, challenges, and opportunities that may impact a business’s performance.

 

 

 

 



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So there you have it – 20 business competitive analysis terms that are essential to know and understand in today’s fast-paced and ever-changing business landscape. By now, you should have a good grasp of what these terms mean and how they can be applied to your own competitive analysis strategies.

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