How To Create a Competitive Matrix?

It’s no secret that businesses face a constant battle for market share. And in order to stay ahead of the competition, it’s important to have a clear understanding of their strengths and weaknesses. But creating a competitive matrix can be difficult—especially if you don’t know where to start. That’s where this blog post comes in. We will walk you through the process of creating a competitive matrix, from identifying your industry’s key players to determining your company’s unique selling points. By following these tips, you will be well on your way to creating a strong foundation for your business.


Creating a competitive matrix is one of the most effective methods for identifying strengths and weaknesses of your business. By creating a matrix, you can quickly identify which areas need attention and where resources can be best spent.

The basic steps to creating a competitive matrix are as follows:

1. Define the key factors that will influence your success.
2. Assign weights to each factor based on how important it is to your business.
3. Calculate the score for each company based on their weighted factor ranking.
4. Identify areas in which your company falls short and where you need to focus your efforts.

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How to Create a Competitive Matrix (Guide + Templates) | Crayon

Creating a competitive matrix can help businesses identify and track their strengths and weaknesses. It can also show where the company might need to improve its performance in order to remain competitive. By understanding which areas of the business are strong and which areas need improvement, businesses can take steps to improve their overall performance.

A competitive matrix consists of four columns: strengths, weaknesses, opportunities, and threats. The first column lists the company’s strengths. The second column lists the areas in which the company excels. The third column lists the areas in which the company may have weaknesses. The fourth column lists the opportunities that are available to the company in relation to its strengths and weaknesses.

The Competitive Matrix is helpful for several reasons:
-It provides baseline information for benchmarking against other businesses
-It identifies where improvements may be needed
-It assists with communication between departments or divisions within a business
-It helps guide strategic decision making

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Elements of a Competitive Matrix


A competitive matrix is a tool that can help you identify and assess the strengths and weaknesses of your current competition. The matrix will help you understand what your competitors are doing well, and where you can improve your offering.

There are a few key elements to constructing a competitive matrix:
1. Identify your current competitor’s key offerings.
2. Assess how each of these offerings compares to your own.
3. Map out which areas of your business could use improvement.
4. brainstorm ways to address these weaknesses.
5. Take the results of this analysis and put it into action by implementing targeted changes in your business strategy.

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Tactics for Creating a Competitive Matrix

There are a few key things that you need to do in order to create a competitive matrix. The first is to define the businesses that you want to include. You’ll want to make sure that your matrix includes businesses of different sizes and stages of development. By including a wide range of businesses, you’ll be able to get a more accurate picture of how businesses compete.

Next, you’ll need to identify the key factors that influence competition. These factors can vary depending on the industry, but they generally include price, quality, service, and innovation. Once you have a list of the key factors, you can start creating your matrix.

To create your matrix, start by dividing the horizontal axis into categories based on one or more of your key factors. Then, divide each category into subcategories based on how important each factor is in relation to competition. Finally, place all of the businesses in each category along the diagonal section of your matrix based on their relative importance.


As business owners, we know that in order to be successful, we need to develop a competitive matrix. The goal of this matrix is to help us identify our key strengths and weaknesses so that we can focus on improving where we are strongest and developing new areas of focus. By creating a competitive matrix, we can ensure that our business remains healthy and resilient as the environment around it changes. ###