Then, once you have a better idea of who your real competition (aka your threat) is, it’s key that you keep track of what they’re doing.Įnter competitive analysis. So, if competition is actually healthy, how best can brands embrace it? For starters, you need to know where to look for it. The only monopoly that’s good is the board game (and even that’s up for debate). Without it, consumers are robbed of choice and the chances are pretty good that they will end up having to pay ridiculously high prices, while brands run the risk of getting too comfortable, instead of continuously trying to improve their products. Not just for consumers, but also for companies. Our partners cannot pay us to guarantee favorable reviews of their products or services.Ī good dose of competition is good. Our reviews are based on years of experience and countless hours of research. This may influence which products or services we review (also where and how those products appear on the site), this in no way affects our recommendations or the advice we offer.
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