Business – 8.1 Marketing analysis – Product development | e-Consult

Competitor analysis involves examining rivals' products, strategies, and market performance to uncover strengths, weaknesses, and emerging trends. By identifying gaps or successful features, firms can adapt or improve upon them, creating differentiated offerings.

• Example 1: A smartphone manufacturer notes a competitor's strong camera performance but limited battery life. It can develop a new model that retains the high‑resolution camera while integrating a larger battery, positioning the product as a balanced alternative.
• Example 2: A fast‑food chain observes a rival's successful plant‑based burger line. It can introduce its own vegan menu item with a unique flavour profile or locally sourced ingredients, tapping into the growing demand for sustainable options.