Question

write detail note on competition Analysis​

Answer 1

Answer:

• Running a small business can be highly competitive. At least, it feels that way to the majority of small business owners, according to a poll from the National Federation of Independent Business (NFIB).  

• 53% describe it as highly competitive, while 28% see it as competitive. This means that as small business owners, especially those who run very small operations, have more to contend with than just trying to meet their sales goals. To keep your business surviving, you also need to understand your position when compared to your competitors.

Answer 2

Explanation:

Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. ... Competitor analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough.