Competitive analysis is the process of evaluating and understanding the strengths and weaknesses of a company’s competitors in order to gain a competitive advantage. It involves researching and analyzing their products, services, marketing strategies, and market position to identify opportunities and threats in the market. This information is then used to make informed decisions and develop effective strategies to stay ahead of the competition. A thorough and well-executed competitive analysis can provide valuable insights and help businesses stay relevant and successful in a constantly evolving market.