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Some of the challenges in conducting a competitive analysis include: gathering accurate and up-to-date information about competitors, understanding the competitors' strategies and future plans, analyzing the data in a way that provides actionable insights, and making changes to your own strategy based on these insights. It can also be challenging to predict how competitors will react to changes in the market or to your own actions.
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Execs need competitive analysis to get outside of what they think they're good at or what their competitors to do and switch course and pivot as they see areas of weakness in competitors for you to act on. Pivot in terms of technical changes or pivot in terms of brand image or brand positioning. No matter what you do, you feel if they actually need to give a presentation on your findings, the second half of the deck is great for that. With this explainer, you'll learn how top companies like McDonald's, Apple, Robinhood, and Netflix use competitive analysis to be at the top of their industry.
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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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