What is Competitor Research?
Competitor research is the practice of analyzing your competitor’s business to identify their strengths, strategies, and weaknesses. It is also called competitor analysis.
Competitor research involves studying your competitors’ marketing strategy, audience, customer acquisition strategy, products, services, and prices. That way, you can gather valuable insights into their business and understand their capabilities.
Customer research also provides you with insights into your own business. By comparing your business against your competitors, you can understand your strengths and weaknesses and make informed decisions to improve your chances of winning more market share for yourself.