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ferriesthai

What is the meaning of competitive analysis?

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A competitive analysis is a research (usually online) made in order to better understand the competitive landscape and estimate opportunities, weaknesses, threats and strengthens of competing industry players, to optimize future business activities and utilizations (marketing, product, sales or alike)

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A competitive analysis is a critical part of your company marketing plan. This analysis in marketing and strategic management is an assessment of the strengths and weaknesses of the current and potential competitors.

This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.

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Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service. Acompetitive analysis is a critical part of your company marketing plan.

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