Answer / reddy4english

Hi. Competitor analysis is very critical in any business, job, or industry. If you've identified who your existing competitors and potential competitors are, half your job is done. All you have to do is workout a strategy. For this, you should be well aware of the competitors' objectives, reach, and the potential. Say, you're looking for a promotion and there are 5 employees at the same level as you are. It's very important that you have an edge over the others and that you highlight/advertise this USP to your boss/management. You don't have to be a crook to pip the competition. You just have to identify their strengths and weaknesses and prepare a strategy that will make you stand out. All the best!

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