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COMSTRAT 310 Syllabus - Fall 2018

COMSTRAT 310 - DIGITAL CONTENT PROMOTION (3 CREDITS) Instructor:  Brett Atwood                                EMAIL:    batwood@wsu.ed...

Competitive Analysis & SWOT Analysis

Many students are already familiar with the concept of a Competitive Analysis and SWOT analysis. As you may already know, you can use both of these to help identify where your product fits within the overall marketplace. By developing both of these documents, you will help focus the approach used in planning your advertising and/or PR campaigns.
COMPETITIVE ANALYSIS
A competitive analysis involves a simple exploration of your competitors in the product category or niche that you are aiming to develop a product and campaign for.

Xtensio has a free template that can help you get started:
Examples of completed Competitive/SWOT Analysis documents:
The above template also includes a section for a related SWOT analysis. However, you might also want to create a dedicated SWOT Analysis as a separate document.

(Note: The "free" version of Xtensio has some limitations that you should be aware of if you use it to complete this project. Please see the pricing page for information on what features are supported).

SWOT ANALYSIS

In addition to understanding your competition, you should do an analysis of  the key attributes and value propositions of your potential brand. A SWOT analysis can help you get a clearer understanding of your product by documenting the:
  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
To do a proper SWOT analysis, you will need to really consider what the key value propositions are in relation to the overall existing marketplace. This is  why both the SWOT analysis and competitive analysis are important as a starting  point to your campaign. You need to KNOW your brand and the larger product  category before subsequent work can begin.
Looking for examples? Marketingteacher.com has great examples of several brands, including:
Some people choose to create a SWOT Analysis that is entirely separate from the Competitive Analysis. If that is of interest, then check out this template:

COMPETITOR INTELLIGENCE

For all of the above, there are useful tools that can help you gather intelligence on your competitors. One web-based tool that can help you better understand the website demographics of your competitors is: