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How to
Analyse Your Competitors
Central to
your business is your ability to define and then maintain a
competitive advantage for your business.
To do this
effectively, it is necessary to know and understand what makes
your competitors tick. Without this information, you may think
that you have identified your competitive advantage-also known
as sustainable uniqueness-, when in fact, others may be better
than you!
So, what
information do you need and where can you get it?
What
information do you need and how much do you know?
Here is a list of questions to start with -
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How many competitors do I
have?
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How many have entered the
market in the last year?
-
How many have left in the
last year?
-
What are their main strengths
& weaknesses
-
On what basis do they
compete?
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How much do I know about my
three biggest competitors?
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