what is competitors analysis & why it is vital for business growth?
- Competitor analysis is an important part of any business strategy and should not be overlooked. It helps businesses identify potential threats, as well as opportunities to gain a competitive edge in the marketplace.
- By analyzing competitors’ strengths and weaknesses, companies are able to craft better marketing plans, develop more effective products, and create strategies that can help them become market leaders.
- Competitor analysis can also provide valuable insight into the preferences of consumers, helping businesses better understand their target customers and develop more effective marketing campaigns.
