This chapter presents the steps of a competitor analysis and identifies competitors by using the appropriate methods. It assesses competitors’ strengths and weaknesses on the corporate and brand levels. The chapter shows which qualitative and quantitative data sources may be used in a competitor analysis, and provides a forecast of a competitor’s strategy and reactions. A competitor analysis examines individual competitors. Opportunities that may be expected from competitors are typically found in the weaknesses of those competitors. The strengths and weaknesses of the competitors are compared with the company’s own strengths and weaknesses to understand the extent to which the company is strong or weak in relation to the competitors. Five phases may be distinguished in a competitor analysis. They are identification and choice of competitors, objectives of competitors, current strategies of competitors, identification of factors that determine success and the strengths and weaknesses of competitors, and expected strategies of competitors.