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When new small business owners define their competitors, the first step is to define a Radius that reveals the potential new customers.
What is a competitive analysis?
The process of locating competitors in your business and investigating their various marketing methods is known as a competitor analysis, often referred to as a competitive analysis. By comparing this data to those of your competitors, you can determine the advantages and disadvantages of your business.
We can do a high-level competitor analysis or delve deeply into a single element of your rivals' operations. Although the focus of this article is on how to perform a generic competitive analysis, you should customize this procedure to meet the demands and objectives of your company.
Learn more about competitive analysis here:
brainly.com/question/14768915
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