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We could talk at length about how useful competitor analysis is in business and tell stories about it. Instead, here are 5 areas of a company’s activity where competitor analysis is absolutely essential:

Economic information (informacja gospodarcza) means data on the monetary obligations of legal entities, sole traders and private individuals. Economic information also covers information about the use of a forged document or someone else’s document.

We recently wrote about SWOT analysis on our blog. Today we look in a little more detail at PEST analysis, which is a kind of extension of it.

Most people have heard of SWOT analysis and have seen the matrix in which the factors affecting a company are carefully set out under four headings: Strengths, Weaknesses, Opportunities and Threats. SWOT is sometimes underestimated, perhaps because we first hear about it at secondary school. Yet using it makes it easier to build a well-organised development strategy for a company.

A market and competitor analysis is not an off-the-shelf product waiting for a customer. It is always a service delivered according to the client’s needs. If you are planning to enter a new market, launch a new product or expand into a new industry, a market analysis will help you minimise the risk of failure, identify a niche or successfully match a new product to customer needs.