ARD548-competition and market research
The purpose of the competition analysis is to get to know both current and potential competitors in depth. This knowledge should be as broad as possible. It is worthwhile for it to cover all important aspects of running a business. The final stage of the competition analysis is drawing conclusions and incorporating the obtained results into the process of building a competitive advantage. Applications can be used to create, inter alia, market entry strategies, marketing, and sales strategies, or distribution plans. A properly conducted analysis also allows you to identify niche market areas. Thus, it can lead to building a long-term competitive...