The systematic evaluation of competitors' strengths, weaknesses, strategies, and market position to inform business decisions. It involves researching rival companies to identify opportunities and threats in the marketplace.
This term gained prominence in the 1980s with the rise of strategic management consulting, particularly through Michael Porter's work on competitive strategy. 'Competitive' stems from Latin 'competere' meaning to strive together, while 'analysis' comes from Greek 'analyein' meaning to break up or examine in detail.
Try Another Word