When multiple businesses advertise similar products and services online, how do shoppers differentiate between the good, the bad and what they really need? How can you ensure customers choose your business amongst all other competitors? This is where trust and credibility play a significant role in the decision-making mix. It is how we make our …
7 steps to conduct a competitive analysis Identify and list the competition Create a competitive overview Describe the competition’s target audience Include the competition’s pricing Outline their marketing strategy Define their competitive advantage Summarize each competitor’s strengths and weaknesses Each section in a business plan has a specific purpose. Together, they can help an entrepreneur run their …