A critical part of your companies marketing plan is the overall competitor analysis. In order to achieve and maintain a competitive advantage in reaching and selling to your target market, you must possess a thorough knowledge of your competition. That’s why it’s highly important for your company to understand the process while being able to identify your own competitors. Evaluating your competitor’s strategies will help you determine their strengths and weaknesses and find out what your competitors are doing and what kind of threat they present to the financial well-being of your marketplace.
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