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We live in the most competitive market ever. Today it is more important than ever for you to analyze your competition. It is how businesses understand the position of their brand and product and learn how to stay ahead.
Unless you know who you’re competing against, how can you create a strategy that beats them?
Those who are smart about business find ways to convince clients to pick their offerings over any other. This is what competitive analysis is all about.
Before we focus on how you can implement such an analysis, we should first look at the why.