You have to know exactly what what you're up against if you want to get the edge on your competition. That's why completing an online competitive analysis should be a top marketing priority. As a marketer, it's not enough to have in-depth knowledge of your competitor's products or services, you also need to know exactly how they are marketing these and what tactic's they are employing.
You need to be able to get your product or service in front of the right people quicker and more effectively than your competitor's. A well researched and carefully planned marketing strategy and plan is required in order to achieve this and your marketing strategy should be underpinned by a detailed competitive analysis.