Direct competitors are businesses that offer the same products or services as you to the same target market. For example, in the fast food industry, McDonald's and Burger King are direct competitors. Indirect competitors are businesses that offer different products or services but target the same customers with the goal of satisfying the same need. For example, in the entertainment industry, a movie theater and a concert venue are indirect competitors as they offer different types of entertainment but compete for the same leisure time and discretionary spending of consumers.
Evaluate your position in the market and familiarize how you compare against competitors to do more...
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