When assessing the threat of new competitors, several factors should be considered. These include the current market share, strengths and weaknesses of the potential competitor, the window of opportunity for them to enter the market, the importance of your target market to these competitors, any limitations that may prevent them from entering the market, and the impact of indirect competitors. Additionally, the level of competition in the industry, the threat of new products or services, and the effect of suppliers and customers on price should also be taken into account.
Evaluate your position in the market and familiarize how you compare against competitors to do more...
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