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‘If you know the enemy and know yourself, you need not fear the result of a hundred battles’. Finding out as much information about your competitor is essential in making sure you secure your place in the market. Analyzing their strengths and weaknesses will enable you to fix your own and fulfill any gaps left where you can make profits. This slide pack can help display and analyze easily all the information you have about your competitors and discuss them with your team.
This slide offers you a good structure to present the information you’ve gathered about your competitors to your stakeholders. Understanding the backgrounds, current financial status, products, facilities, and strategies employed by your competitors, you will be able to adopt good practices and improve on the ones that they are lacking.
This simple slide helps you categorize the strengths and weaknesses of your competitors. Simply laying them out side-by-side can give you tremendous insights into their operations. You will also be able to easily identify gaps which they have left in the market which can be yours to claim.
It is most likely the case that your competitors have brought forward more than one product on the market. Look for all the necessary details such as the target audience, reach and marketing channels to see how your competitors are approaching their distribution strategy.
Knowing your competition is half the battle
Do a thorough market research in order to test the viability of your ideas
Fill in the gaps left open by your competitors
Increase your market share by approaching gaps in the market which have not been tackled before
Learn from your competitor’s mistakes
You don’t need to only learn from your own mistakes. See why your competitors performed poorly and make sure you make better decisions
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