It is the process of identifying a firm’s competitors, evaluating their strategies, and determining their relative strengths and weaknesses. It is carried out to help firms discover gaps in the market, find ways to improve their products and services, better differentiate their brand and products, and refine their sales, marketing, and other strategies.
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About the Author: Carmen Yeung
As a marketing associate at Synthesio, Carmen creates content related to social intelligence and marketing by making connections between Synthesio's software and real-world applications. She also works to monitor and optimize Synthesio's social platforms. Outside of work, she enjoys reading, dabbling in art, and spending time with family and friends.