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You may have a unique idea for a new product or a service but it won’t stay that way and in may have even already been developed somewhere else
How well do you really know your competitors? No doubt, you are probably aware of your main business rivals but do you have some level of intelligence at your fingertips? How much do you know about what they do, what your customers think about them and how your business matches up? Understanding your competition can give you a new perspective on your own business and is an important step when planning your marketing strategy.