Analyze the competition's products and services in terms of features, value, and targets. How do your competitor's sell their wares? How do they market them? Customer satisfaction surveys conducted by the trade press can help you tremendously. How do customers see your competition? Ask your sales force for information -- they can be your best source of information about your competitor's customers.
It's likewise important to include information on how competitors distribute and advertise their products. You will want to talk about product quality and, where possible, find out how they are staffed.