Back

Anonymous

Anonymous

Hey I am on Medial • 8m

3. Analyze Your Competition To be successful, you can't afford to ignore your competitors. Take the time to study and learn from them. Larger companies devote significant resources to obtaining this sort of competitive intelligence. How you go about analyzing the competition can depend on the nature of your business. If you're a restaurant or store owner, you may simply be able to dine or shop at a competitor's place of business, ask customers what they like or don't like about it, and gain information that way. If you're in a field with more limited access to your competitors' inner workings, such as manufacturing, try to keep up with the news in relevant trade publications, speak with any customers you share in common, and obtain and scrutinize whatever financial information a competitor makes publicly available.

Reply
1
4

More like this

Recommendations from Medial

Pritam Yadav

Good by to influence... • 3m

Hi Is There Anyone Who Wants To Get Feedback From Their Customers or Competitors Customers ?

Reply
2
Image Description

Somraj

CEO & Founder at Con... • 1y

Startup Blueprint - Day 01 Choosing a right business model: 1.Who will be your customer base ? 2. What's the Domain of your business ? 3. How your business stands out from the competitors ? (Standing out from your competitors will increase your c

See More
1 Reply
9
22
Image Description

Mr Bikash Patel

Do not give up • 8m

What is your unique value proposition compared to your competitors?

1 Reply
1
5

Vikas Acharya

 • 

Medial • 7m

1.INTELLECTUAL PROPERTY (IP) - Legal rights over creations such as patents and trademarks. 2.NETWORKING - Building connections to grow your business opportunities. 3.PAIN POINT - A specific problem faced by potential customers that your product sol

See More
Reply
1
6

Syed Sadiq S

Hey I am on Medial • 4d

I would like to share my idea about the online services that our team can provide for individuals who are unable to travel to have their government documents corrected due to their busy lifestyles. We offer these services through various social media

See More
2 Replies
1
3

Aaryan Agrawal

The owner of self - ... • 4m

*USP (Unique Selling Proposition)* refers to the distinctive feature or benefit that sets your product or service apart from competitors. This is essentially the reason why customers should choose your product over others, highlighting its uniqueness

See More
Reply
3
Image Description
Image Description

Umesh Y

Hey I am on Medial • 1y

Unfortunately, in the real world, no business exists in a vacuum. Even if you corner the market with your groundbreaking innovation, imitators will be close behind. But merely having competitors doesn’t make a thing awful. By finding your unique adv

See More
2 Replies
1
4
Image Description
Image Description

Shuvodip Ray

 • 

YouTube • 1y

The best tools to analyze your business competitors' performance include: 1. Similarweb: An all-in-one competitive analysis software that provides actionable market research. It offers a comprehensive view of your competitors' online presence and pe

See More
6 Replies
20
12

Download the medial app to read full posts, comements and news.