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Competitor Analysis and Unfair Advantage
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Competitor Analysis and Unfair Advantage

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Questions and Answers

What is the purpose of conducting competitive analysis?

  • To find out the strengths and weaknesses of competitors (correct)
  • To copy the products and services of competitors
  • To directly compete with top 10 companies in the market
  • To discover untapped opportunities for indirect competition

    • What is the significance of analyzing indirect competition?

  • It reveals the weaknesses of direct competitors
  • It helps in copying the strategies of indirect competitors
  • It creates a crowded market
  • It can lead to discovering untapped opportunities (correct)

    • What is an unfair advantage in business?

  • A unique service provided by competitors
  • An element that gives a business an edge over competition and cannot be replicated (correct)
  • A strategy to copy from direct competitors
  • A circumstance that creates a crowded market

    • What should be considered while analyzing 'What are they selling' during competitor analysis?

    <p>Features, benefits, functions, and value add-ons of the product</p> Signup and view all the answers

    Why is it important to investigate 'Where are they selling' during competitor analysis?

    <p>It may reveal other opportunities for your own business</p> Signup and view all the answers

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