A competitive analysis is a process of gathering information about the competitors of a certain product, service or business and analyzing their strengths and weaknesses. Qualitative Characteristics are the features that make up the personality of an individual or company. These characteristics can be a strength or weakness depending on how it affects the product or service. A competitive analysis is an important step in making strategic decisions for a company. It helps to identify what your company does best and what you should focus on improving to be more competitive in your industry.