Profiling the Competition

Developing a deep understanding of competitors—whether direct or indirect—is important so businesses can develop plans that position what they have to offer in ways that are more attractive to consumers than what the competition has to offer. The more you know about your competition, the better. You must assume, as well, that the competition is taking steps to learn as much as they can about you. (In fact, one small-business owner that marketed seminars and had two local competitors doing the same thing was convinced that they went through his trash at night—he may have been right!)
A common means of tracking competition is to create profiles for each of your key competitors. These profiles provide detailed information ...

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