Know Your Business Rivals: Basic Tools for Competitor Analysis

Competitive research and monitoring, often referred to as "spying" on your competition, is a common practice that has been around for a long time! This approach is utilized by businesses of all sizes, from small enterprises to large multinational corporations.
By the end of this presentation, we will explore the following key aspects of monitoring your competitors:
-Significance of keeping an eye on competitors
-Assessing the competition
-Tools to aid in evaluation
-Steps to begin the process
*Presented by the UTRGV SBDC with promotional support from participating resource partners, including the Brownsville Chamber of Commerce; Consulate of Mexico in McAllen; Economic Development Corporation of Weslaco; Edinburg Chamber of Commerce; Elsa Economic Development Corporation; Greater Alton Chamber of Commerce; Greater Pharr Chamber of Commerce; Greater Mission Chamber of Commerce; Harlingen Economic Development Corporation; Hidalgo Economic Development Corporation; Palmview Chamber of Commerce; Rio Grande City Economic Development Corporation; Rio Grande City Greater Chamber of Commerce; Rio Grande City Public Library; Rio Grande Valley Hispanic Chamber of Commerce; San Benito Chamber of Commerce; South Padre Island Chamber of Commerce; Starr County Industrial Foundation; and Weslaco Area Chamber of Commerce & Visitors Center.