How to do Competitor Analysis with AI

Competitor analysis is crucial for understanding the market landscape and identifying areas you can capitalize on. To perform a thorough competitor analysis you can follow these steps:

  1. Identify your main competitors and their offerings.
  2. Research their marketing strategies, sales channels, and pricing.
  3. Analyze your competitors' strengths, weaknesses, opportunities, and threats (SWOT).
  4. Identify areas of competitive advantage to focus on.

How can the Spell AI agent help with that?

For this process, we recommend configuring the Spell AI agent with the following plugins and model:

  • Plugins: use the Web Search, Website browsing, and Website scraper plugins to find and aggregate information on competitors.

  • Model: choose GPT-4 for its superior reasoning capabilities and ability to handle complex tasks.

Once configured, provide the AI agent with this prompt:

Conduct a competitor analysis on in the electric car industry, focusing on their marketing strategies, sales channels, pricing, and SWOT analysis.

The AI agent will then perform competitor analysis and provide you with a comprehensive report.

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