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--- competitive-landscape [2024/10/21 21:55] – Ihab Ahmed
+++ competitive-landscape [2024/10/21 22:16] (current) – [Farther Readings] Ihab Ahmed
@@ Line 8: / Line 8: @@
 ===== Why Analyze? =====
-  * Knowing who your competitors are and what they provide can help you find ways to be different.
+  * Identify your competitors and what they offer to find ways to stand out.
-  * By studying your competitors, you can find gaps in the market that your startup can fill.
+  * Discover market gaps your startup can fill by studying competitors.
-  * Watching your competitors helps you respond quickly to changes in the market.
+  * Monitor competitors to quickly adapt to market changes.
 ===== Key Components =====
-  * Know your customers.
+  * Understand your customers.
-  * Look at your competitors’ strengths and weaknesses.
+  * Assess your competitors' strengths and weaknesses.
-  * Check how big the market is and how fast it's growing.
+  * Analyze market size and growth rate.
-  * Watch for changes in technology, rules, and customer preferences.
+  * Stay updated on technology, regulations, and customer preferences.
 ===== Steps =====
-  * Collect data about your competitors and the market.
+  * Gather data on competitors and the market.
-  * Check what your competitors do well and where they struggle using SWOT analysis.
+  * Evaluate competitors using SWOT analysis.
-  * Notice changes in customer behavior and industry trends to find new opportunities.
+  * Watch for shifts in customer behavior and industry trends.
-  * Use your analysis to improve your products and marketing strategies to better meet customer needs.
+  * Use your findings to enhance products and marketing strategies.
+===== Useful Tools =====
+  * **SWOT Analysis** Identify strengths and weaknesses of your startup and competitors.
+  * **Porter’s Five Forces** Examine the competitive pressures in your market.
+  * **PESTLE Analysis** Assess political, economic, social, technological, legal, and environmental factors affecting your industry.
 ===== Farther Readings =====
-  - Zhukova, N. (2022, November 9). How to do a competitive landscape analysis (if you’ve never done it before). SEMrush. https://www.semrush.com/blog/competitive-landscape/
-  - Brereton, J. (2022, April 20). The ultimate guide to competitive landscape analysis for business success. LaunchNotes. https://www.launchnotes.com/blog/the-ultimate-guide-to-competitive-landscape-analysis-for-business-success
+  - Zhukova, N. (2022, November 9). How to do a competitive landscape analysis (if you’ve never done it before). [[https://www.semrush.com/blog/competitive-landscape|SEMrush]].
-  - SurveyMonkey. (n.d.). 7 steps to create a competitive landscape analysis. https://www.surveymonkey.com/market-research/resources/steps-to-create-a-competitive-landscape-analysis/
+  - Brereton, J. (2022, April 20). The ultimate guide to competitive landscape analysis for business success. [[https://www.launchnotes.com/blog/the-ultimate-guide-to-competitive-landscape-analysis-for-business-success|LaunchNotes]].
+  - SurveyMonkey. (n.d.). 7 steps to create a competitive landscape analysis. [[https://www.surveymonkey.com/market-research/resources/steps-to-create-a-competitive-landscape-analysis|SurveyMonkey]].
+  - Land Finance Hub. (2007). [[https://landfinancehub.org/download/cid-tg-strategic-analysis-tools-nov07-pdf-1663651553.pdf|Strategic Analysis Tools - PDF]].