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Article: Analyzing the competition.(Business Corner)
- Article from:
- Coatings World
- Article date:
- September 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In last month's article, we explored the first step in a five-step consideration in the analysis of your competitors. We discussed the levels of competition we needed to uncover through an industry analysis and an analysis of the value system within each segment and its relative importance.
In this installment, we will address the competitive forces and the methods to identify and describe competitors.
Analyzing the competition follows five steps:
* Define the competitive arena for the generic, specific, and variant product-markets;
* Identify and describe key competitors;
* Evaluate key competitors;
* Anticipate ...