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Understanding the competition

May 2nd, 08:39


Understanding the competition

Competitor research is vital to any successful product range. In fact it would be almost impossible for any brand to establish an effective unique selling proposition (USP) without first analysing the strengths and weaknesses of its competitors. A brand’s competitor analysis should form part of its category positioning strategy.

Leron Varsha, CEO of Fore Good, explains: “Market research begins with an investigation into the size of your category, what competing brands are in that category and how your product is going to be strategically placed within the market. Through analysing the strengths and weaknesses of competing brands, you will be able to gauge how your USP compares and whether or not you already possess, or alternatively can create a competitive edge.”

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