Competitor analysis and research
Stay ahead of the competition
Be better than the rest.
Competitive analysis or competitive research is a field of strategic research that specialises in the collection and review of information about rival companies. It’s an essential tactic for finding out what your competitors are doing and what kind of threat they present to your financial well-being.
Unless you are marketing earrings made from old coffee cans, chances are there are other companies out there offering a similar product or service as you.
Establishing an edge over these competitors is just part of the daily grind, but ask yourself, to what extent are you prepared to gain an edge over your competitors?
Simply knowing what they offer is not enough.
With the advent of new software and technology, we have the ability to know more about your competition than ever before. It is extremely important to regularly conduct a thorough competitive analysis in order to stay ahead. Why stay one step ahead when you can stay ten steps ahead?
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