Competitor analysis template
Business templates
Use this competitor analysis template to compare nearby businesses, suppliers or service providers on product, price, place, promotion, strengths and weaknesses. It suits job seekers, students, small business owners and community groups planning a service or checking a market. The editable Word document includes a comparison table, evidence notes and space for practical next steps.
What's in the template
Competitor analysis template
Use this document to compare businesses or service providers that serve a similar customer or need.
Scope
| Business, project or group | [Your business, project or group] |
|---|---|
| Prepared by | [Name] |
| Area or customer group | [Suburb, town, municipality or audience] |
| Products or services compared | [Product or service] |
| Date reviewed | [Date] |
| Purpose | [Decision this comparison should support] |
Record what you observed and when. Mark estimates clearly. Keep the comparison focused on the same customer need.
Competitor comparison
| Competitor | Product or service | Price and what is included | Place and access | Promotion | Strengths | Weaknesses or gaps | Evidence and date checked | Possible response |
|---|---|---|---|---|---|---|---|---|
| [example] Neighbourhood bakery | [example] Fresh bread and custom cakes | [example] Mid-range loaf; confirm current price | [example] Main road and local delivery | [example] Specials shared on WhatsApp | [example] Known in the area | [example] Limited evening hours | [example] Shop visit, [example] date | [example] Test later collection |
| [Competitor name] | [Main products or services] | [Price and inclusions] | [Location, delivery or access] | [How it promotes its offer] | [Observed advantage] | [Observed gap] | [Evidence and date checked] | [Possible response] |
| [Competitor name] | [Main products or services] | [Price and inclusions] | [Location, delivery or access] | [How it promotes its offer] | [Observed advantage] | [Observed gap] | [Evidence and date checked] | [Possible response] |
Evidence notes
| Observation | What I saw or heard | Date checked | Confidence |
|---|---|---|---|
| [example] Offers home delivery | [example] Delivery option on shop notice | [example] date | [example] Confirmed |
| [Observation to check] | [Evidence or source type] | [Date] | [Confirmed, estimated or unverified] |
Summary and decision
| Factor | What stands out | What I will do |
|---|---|---|
| Product | [Useful difference or customer need] | [Action to consider] |
| Price | [Price position and inclusions] | [Action to consider] |
| Place | [Location, delivery or ease of access] | [Action to consider] |
| Promotion | [Message or channel used] | [Action to consider] |
| Strengths | [Relevant competitor strengths] | [How to respond] |
| Weaknesses | [Gaps customers may notice] | [How to respond] |
Actions and review
- [Action to take] — [Person responsible] — [Date to review]
- [Action to take] — [Person responsible] — [Date to review]
| Next review date | [Date] |
|---|---|
| Notes | [Other points to check] |
Prepared by: [Name and signature]
Reviewed by: [Name and signature]
How to fill it in
- Set the scope Fill in the business, area, product or service, and purpose. Keep the comparison tied to one customer need.
- Choose competitors Name businesses that serve a similar customer or need. Add each one to a row in the comparison table.
- Compare the offer Record products or services, prices and inclusions. Note locations, delivery or other ways customers can access the offer.
- Record promotion Describe how each competitor presents its offer. Write down what you observed and when you checked it.
- Assess strengths and gaps Use evidence notes to support your observations. Separate confirmed details from estimates or unverified comments.
- Choose actions Complete the summary for each factor, then list practical actions and who will handle them. Add a review date and signatures if useful.
Tips before you send it
- Compare prices only after recording what each offer includes, such as delivery or extras.
- Do not treat one advert as proof of regular stock or service; note what you verified.
- Replace vague claims like better service with an observed detail, such as collection options.
- Record when you checked prices and promotions, since they can change.
Questions & answers
Who should I include in the comparison?
Choose businesses that serve a similar customer or solve the same problem. Include a direct competitor and a practical alternative, such as a larger shop or online seller.
How do I compare prices when offers differ?
Record what the customer receives, including delivery, packaging or extras. Note when you checked, and compare like with like.
Where can I find competitor information?
Use public shop displays, product lists, customer-facing adverts and your own enquiries. Mark what you observed separately from what someone told you.
Can a committee or stokvel use it?
Yes. Compare service providers, venues or suppliers for the same need. Record the reasons behind the group’s choice.
How often should I update it?
Review it when your offer, local market or decision changes. Recheck prices and promotions before relying on old notes.
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