Benefits of competitive analysis
1) Strategic Positioning: Understand how your products and services compare to those of your competitors, allowing you to position yourself more effectively in the market.
2) Identify Opportunities: Discover gaps in the market that you can exploit to gain a competitive advantage.
3) Mitigate Risks: Anticipate potential threats from competitors and develop strategies to counteract them.
4) Benchmarking: Measure your performance against industry leaders and identify areas for improvement.