Gain a Competitive Edge with Competitor Portfolio Management: Importance, Benefits, and Best Practices
Competitor portfolio management is a strategy that involves analysing and tracking a group of competitors to gain insights and develop effective strategies for competing against them.
By managing a competitor portfolio, a business can identify where it can take market share away from its competitors and where it needs to defend its own market share. Analysing a company’s competitor portfolio can help businesses identify potential threats and opportunities, develop effective differentiation strategies, and improve their overall competitiveness. The concept of dynamic strategic landscapes highlights the importance of analysing both the current and future state of the competitive landscape.
In this article, the importance, benefits, and best practices of competitor portfolio management will be discussed, along with the various tools and techniques that businesses can use to analyse and track their competitors, and real-world examples of companies that have successfully implemented competitor portfolio management strategies.
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