Prior to developing a marketing plan, identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service is critical. An understanding of how your existing and potential customers rate the competition. A positive identification of your competitor’s strengths and weaknesses. Competitor analysis gives you a mechanism to develop effective competitive strategies in your target market and an understanding of how your existing and potential customers rate the competition.
- List of competitors
- Target Customers