Few companies have few or no competitors. Even if direct competition is meager, your organization competes with other alternatives in the same space and with the status quo.

Smart companies perform competitive analyses on clockwork schedules. A solid competitive analysis will help you identify how your company should position itself and its products and services for success in a given market.

Once you’ve analyzed your competition you can develop a powerful competitive strategy for your business that you can sustain over the long term. Choosing the right competitive strategy is imperative to the success of your marketing strategy.

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