EIGHTEEN
Choose Your Competition
Choosing your strategy means choosing your competitor. Your competitor determines your level of sales, your prices, your profitability, your market share, and how fast or how slow you grow.
In warfare they say that no strategy is possible without consideration of the enemy—knowing who the enemy is and what the enemy is likely to do. It is the same in business. In Michael Porter’s work on competitive advantage at Harvard, he points out that competitive response to your marketing activities, or what your competitors are likely to do, must be a primary consideration in all of your strategic planning.
Identify Your Competitors
Who or what is your competitor for your product or service today? Who are your main competitors? ...
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