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How to Conduct Competitor Research?

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Whatever business we run, we will always encounter many competitors, meaning other business people who offer the same or similar products. So we as business people need to do competitor research to find out the weaknesses of competitors' products and also implement the right sales strategy. For this we need to know how to conduct competitor research as follows:
1. Set Goals
2. Choose Your Competitors
3. Try to Sort Potential Threats
4. Determine the method of analysis
5. Implement it in Business Strategy
 
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