A business can differentiate itself in a competitive market by conducting a thorough competitive analysis. This involves assessing the market share, strengths and weaknesses of competitors, the window of opportunity to enter the market, the importance of the target market to competitors, and any limitations that may prevent market entry. It's also important to consider indirect competitors who may impact success. Differentiating the competitive analysis by industry, considering the level of competition, the threat of new competitors or services, and the effect of suppliers and customers on price can also help a business stand out.
Evaluate your position in the market and familiarize how you compare against competitors to do more...
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