Competitive analysis can help find a market advantage by assessing various characteristics of the competitive landscape. These include market share, strengths and weaknesses of competitors, your window of opportunity to enter the market, the importance of your target market to your competitors, and limitations that may prevent you from entering the market. It also involves considering indirect competitors who may impact your success. Differentiating your competitive analysis by industry is crucial, as it takes into account the level of competition, the threat of new competitors or services, and the effect of suppliers and customers on price.
Evaluate your position in the market and familiarize how you compare against competitors to do more...
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