How can you use competitor analysis to inform your brand positioning?

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In the dynamic world of business, knowing your competitors is as crucial as understanding your customers. Competitor analysis is a strategic process where you identify major competitors and research their products, sales, and marketing strategies. This knowledge not only helps you anticipate their next moves but also informs your brand positioning—how your brand is perceived in the context of the market. By analyzing the strengths and weaknesses of your competitors, you can carve a niche for your brand that highlights your unique selling propositions (USPs) and differentiates you from the rest.

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