"Typically when I conduct a competitive analysis, I start by performing a SWOT (Strengths, Weaknesses, Opportunities, and Threat) analysis on my company. Doing this helps me to determine our positioning in the market, and then my team and I can create appropriate sales and marketing language. After this happens, I put together a report that compares our product's features against similar competitor products. This allows us to see where our competitors are falling short so we can make sure to fill those gaps. It's important that my team and I examine both the technical and business aspects of the product during this stage in the process so we can ensure a successful launch."