Web Reference: Who are your direct and indirect competitors? What strategies do they employ? Where are they vulnerable? How can you differentiate? The following framework, adapted from BCG and McKinsey's approach, outlines the main elements that should go into your competitive market analysis. Feb 25, 2026 · What is a competitive analysis? The formal definition is that a “competitive analysis” is the process of identifying and evaluating competitors to understand their strengths and weaknesses and to inform your business strategy. Competitive analysis involves identifying your direct and indirect competitors using research to reveal their strengths and weaknesses in relation to your own. In this guide, we’ll outline how to do a competitive analysis and explain how you can use this marketing strategy to improve your business.
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