To gain an understanding of how one's brand is similar and/or differentiated compared to competition, it is important to understand what to look for in a competitive analysis. I have experience comparing brands in education, conservative energy, entertainment, air travel, and fashion, to name a few. Below I showcase a few of my techniques:
COMPETITIVE BRAND AUDITS
Harvey balls are among my favorite way to quickly make visual comparisons between one's brand and competition. The balls are key to understanding the chart - the more complete the ball, the more similar the competition is in each comparable category.
Another way to visually compare how a brand compares to its competition is to visualize where it would be located in a graph comparing its qualities. This is a good view when trying to decide how to re-brand, or shift a brand to compete in an unclaimed positioning area, or "white space."
The most traditional form of brand audit looks at messaging, product/service offerings, brand persona, color swatch, and various other brand elements. The same overview can be done for direct competitors, to see how their positioning stacks up against one's brand.