How to do a competitive analysis?

Competitive analysis — this is the process of studying competitors' strengths and weaknesses to understand the market and improve your own product. Main steps:

1. Define the goals of the analysis — what exactly do you want to find out (e.g., positioning, functionality, prices).
2. Choose competitors — direct (same clients and product) and indirect.
3. Collect data — study websites, applications, reviews, marketing materials, financial reports.
4. Analyze characteristics — functionality, UX/UI, prices, marketing, user reviews.
5. SWOT analysis — identify competitors' strengths and weaknesses, opportunities, and threats.
6. Conclusions and recommendations — what can be improved in your product, what niches or threats exist.

Example: if you manage a food delivery app, analyze what features competitors have, how they interact with users, what reviews they receive, and based on this, improve your service or highlight unique advantages.