Understanding Competitive Analysis

Learn how to perform a thorough competitive analysis to inform your business strategy and market positioning.

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Act as a business consultant and guide me through conducting a thorough competitive analysis for [your business or industry]. Break down the process into clear, actionable steps, including identifying key competitors, analyzing their strengths and weaknesses, understanding their market positioning, and examining their strategies in areas such as marketing, pricing, and customer engagement. Offer advice on how to use competitive insights to inform my business strategy and market positioning. Describe useful tools or resources for each step and suggest ways to present findings in a business plan or strategic report.

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## Conducting a Thorough Competitive Analysis

### Step 1: Identify Key Competitors

1. **Market Res...

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