A business establishment must always have a competitive analysis of its competitors and how their products and service compare. With such an evaluation, the company can have a gauge on how its product and service can either have an edge or a deficiency against its competitors. Consequently, modifying its products attributes will attract its target market

Such analysis will include evaluations on your competitor’s strengths and weaknesses. With this data on hand, you can begin to formulate how to give the company an advantage. Innovations to produce such advantage will always result in better products and services. This is a continuing process, it is an integral part of the company’s business or marketing plan and it also provides context for growth. Click here to read more.