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Plotting competitors on a map can help in strategic planning by providing a visual representation of the competitive landscape. It allows a company to see where its competitors are located, their geographic coverage, and how they are positioned in terms of price and quality. This can help the company identify gaps in the market, potential areas for expansion, and strategies to differentiate itself from its competitors.
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...
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For instance, other dimensions to measure could be brand identity, distribution channels, quality or technology, level of vertical integration, or specific cost position or services offered. In this case, the y-axis represents price and quality while the x-axis highlights the geographic coverage of competitors, or how many locations they have throughout the world. You then group the players according to where they land and plot them on the map.
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