Why a Competitive Analysis Belongs in Every Business Toolkit

JLB Marketing and Consulting Strategies and Tactics

In today’s fast-moving marketplace, it’s not enough to simply know your own business—you also need to understand the landscape around you. That’s where competitive analysis comes in.

A competitive analysis is a powerful research process that reveals who your competitors are, what they offer, how they price their products or services, and how they market—both online and offline. It also provides insights into their market share, strengths, and areas where they may be falling short.

Why does this matter?

Because knowledge fuels strategy.

By identifying market gaps, emerging trends, and ways to differentiate your brand, competitive analysis helps you sharpen your offerings and strengthen your marketing approach. It’s especially valuable when starting a business, noticing a drop in sales or traffic, or when a new competitor enters the scene.

Ideally, this process should be done before launch and reviewed annually, but in rapidly evolving industries, more frequent check-ins can make all the difference.

Want to gain a competitive edge?

Let’s add this powerful tool to your business toolkit, contact JLB Marketing & Consulting.