Article: Eyeing The Competition
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Eyeing The Competition
?Never underestimate your competition.? Today, that old business adage holds more meaning than ever, but many companies do not take time to objectively assess their company or products and compare them to their adversaries in the marketplace. Worse yet, some companies even feel that their products have no competition. Though it can be daunting to look at the realities of your market, understanding your competitive business environment is critical when planning for your company's future profitability.
Hammers Vs. Crowbars
First, let's clarify: everyone has competition, though it may not always seem obvious. Marketing experts cite two categories of competition: indirect and direct. Every company has indirect competition, no matter how unique or high-tech their p...
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