What are the key steps to define clear objectives in competitive analysis?
To define clear objectives, start by identifying your goals, understanding your market, and analyzing competitors' strengths and weaknesses.
How do I prioritize these objectives?
Prioritize objectives based on their impact on your business goals, the resources required, and the urgency of the market conditions.
Can you give me an example of a clear objective?
Sure! An example could be: 'Increase market share by 10% in the next year by analyzing competitors' pricing strategies.'
What tools can I use for competitive analysis?
You can use tools like SWOT analysis, Porter’s Five Forces, and various market research software to aid your competitive analysis.
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