In order to assess the key environmental forces that affect your brand and its overall health and ability to do business.
You can conduct a simple SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.

With your list of competitors you can begin to populate the following four quadrants by answering how well your brand stacks up against the competition as well as the key market dynamics across these vectors by answering the following questions in the four quadrants:

Strengths: What are the brand elements most helpful in driving growth?

Weaknesses: What are the brand elements that are setbacks to growth?

Opportunities: What market conditions can accelerate growth?

Threats: What market conditions can significantly limit growth?

With the quadrants populated, you can derive key insights to select a growth strategy that uses your strengths to tap into opportunities and consider any weaknesses and threats that might jeopardize your growth. This analysis will increase your chances of success in the market.