These strategies can help in long-term business planning by providing a comprehensive understanding of the competitive landscape and identifying opportunities for growth and improvement. They can help in identifying strengths, weaknesses, opportunities, and threats (SWOT analysis), understanding the competitive pricing dynamics, and exploring untapped markets (blue ocean strategy). They can also help in understanding the competitive forces in the industry (Porter's five forces) and identifying strategic groups within the industry. This can lead to better decision making, more effective strategies, and higher return on investment.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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