ENTREPRENEURSHIP

Detailed explanation-1: -Competitive analysis helps you learn from businesses competing for your potential customers. This is key to defining a competitive edge that creates sustainable revenue. Your competitive analysis should identify your competition by product line or service and market segment.

Detailed explanation-2: -A competitor analysis, also referred to as a competitive analysis, is the process of identifying competitors in your industry and researching their different marketing strategies. You can use this information as a point of comparison to identify your company’s strengths and weaknesses relative to each competitor.

Detailed explanation-3: -A competitive analysis is an assessment of your competitors’ products, services and sales tactics, evaluating their strengths and weaknesses relative to your own. It’s good business practice to conduct a full competitive analysis at least once a year.