How do you analyze market and competition?

Measure the degree of competition

Measuring the degree of competition gives you an accurate analysis of the competing companies and products. This is an important key in this process as it enables you to determine your competitive advantage that may distinguish you from other competitors.

Evaluate the following characteristics when measuring the degree of competition:

their market share

Points of strength and weakness

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Your chance to enter the market

The importance of your target market to your competitors

Barriers that hold you back when entering the market

Secondary competitors that may affect your success