Competitor profile chart
Profiling your competitors allows you to understand a range of key information about their business – including what prices they charge for their products, where they find their customers and how they advertise.
Researching competing businesses to create a competitor profile will help you to see gaps in the market that your business can meet. For example, if your competitors do not have an online presence, you might be able to attract customers by offering your products and services online.
Create a profile for each of the competitors to your business by reading the questions below and typing your answers into the competitor profile chart.
|Competitor 1||Competitor 2||Competitor 3|
|What is their business name?|
|Where is the business located?|
|How would you rank their location and why? (e.g. exposure, traffic flow, access, parking, other businesses)|
|How many customers do they have in a particular time period? (You could observe their office or store to determine this.)|
|How many employees do they have?|
|How effective are their employees at doing their job?|
|What do they charge for their products and services?|
|What is their refund policy?|
|Which customers are they targeting? (e.g. young male professionals, families with teenage children)|
|How do they advertise or market themselves?|
|Do they have an online presence (e.g. website, social media)?|
|Does their online presence have sales and e-commerce functionality?|
|How do they sell and/or distribute their products and services (e.g. through their premises, online or other sales platforms)?|
|What is their competitive advantage?|
- Learn more about responding to competition.
- Find out how to understand your competitive advantage.
- Learn how benchmarking your business helps you to measure your performance against other businesses in your industry.
- Complete the customer profile chart to identify key information about your customers.
- Find other research resources for business and industry.
- Undertake a SWOT analysis to examine what factors are affecting your business.
- Last reviewed: 26 May 2021
- Last updated: 26 May 2021