David, today I’m going to teach you how to conduct competitor analysis. It’s a basic skill for anyone in the marketing department.

That’s great! Manager Zhao, what exactly should we analyze?

There are three main things to look at: competitors’ product prices, promotional channels, and user reviews. Simply put, “Know yourself and know your enemy, and you will never lose a battle.”

My mother has said that too! It’s from The Art of War, isn’t it? I didn’t realize that principles of warfare could also be applied to business.

That’s right. The business world is like a battlefield. First, collect information on three competitors. You can check their official websites, social media, and user reviews on e-commerce platforms.

Got it. What should I do next after collecting the information?

Make a comparison table and identify each company’s strengths and weaknesses. The key is to find areas where the competitors haven’t done well—that’s our opportunity.

I see! So it’s not just about looking at what others have done, but finding room to differentiate ourselves, right?

Exactly—you catch on quickly. Send me the report by Friday. If you do a good job, I’ll have you join the next project meeting.

Thank you, Manager Zhao. I’ll make sure to do it carefully!