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GLOSSARY

Competitive analysis

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Competitive analysis is the process of identifying and evaluating your competitors to understand their strengths, weaknesses, and market position in relation to your own startup or product.

What is Competitive Analysis?

Competitive analysis involves studying competitors to gain insights into their offerings, target audience, pricing, and marketing strategies.

Why It Matters

By conducting competitive analysis, startup founders can identify market opportunities, differentiate their product, and refine their business strategy based on competitors' successes and failures.

Examples

  • Examining a competitor's customer reviews and feedback to understand areas for improvement
  • Comparing pricing models and features to adjust your own product offerings

Related Concepts

Market research, SWOT analysis, competitive intelligence

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