These strategies can be effectively implemented in a small business by first understanding the business's unique strengths and weaknesses through a SWOT analysis. Then, use a strategic group analysis map to identify potential market opportunities. Competitive pricing analysis can help set prices that are competitive yet profitable. The blue ocean strategy can be used to create uncontested market space, while Porter's five forces can help understand the competitive forces in the market. It's important to customize these tools to fit the specific needs of the business.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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