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Thread: What is the meaning of competitive analysis?

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    What is the meaning of competitive analysis?

    What is the meaning of competitive analysis?

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

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    A competitive analysis is the analysis of your competitors and about how your business gets compared with other business. It is the process of identifying the competitors and then evaluating their strengths and weak points against your own product and services.To identify the opportunities and the helping to discover the weaknesses can be refers to competitive analysis.

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    The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited

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    A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.
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