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Scoring key adapted from Be Your Own Sales Manager by Tony Alessandra Jim Cathcart and John Monoky Prentice Hall 1990. Which factors are most important Market share will certainly be one criterion. Others may include price quality turnaround time service advertising and training. They may be a part of the total offering that has some value but they by no means create the differential. Make sure that your competitors are not educating customers to increase the importance of these criteria. You...
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Start by identifying your main competitors in the industry.
02
Collect relevant information about your competitors such as their products/services, pricing, marketing strategies, target market, strengths, and weaknesses.
03
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Evaluate your own strengths and weaknesses in comparison to the competitors.
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Start your competitive analysis is the process of researching and analyzing your competitors to identify their strengths, weaknesses, strategies, and market position.
Start your competitive analysis is typically required to be conducted by businesses seeking to gain a competitive advantage in their industry.
You can fill out a competitive analysis by researching your competitors online, analyzing their products or services, pricing, target audience, marketing strategies, and positioning in the market.
The purpose of conducting a competitive analysis is to gain insights into your competitors' strategies, strengths, weaknesses, and market position in order to improve your own business strategy and gain a competitive advantage.
Information that must be reported in a competitive analysis includes competitor profiles, SWOT analysis, market share, pricing strategies, advertising and promotions, and key differentiators.
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