From the course: Defining and Segmenting Competition
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Defining and segmenting your competition in action
From the course: Defining and Segmenting Competition
Defining and segmenting your competition in action
- Now we're ready to fill out our prep worksheet for defining and segmenting your market. But first, a couple of tips. Now I want you to remember that your competition just isn't the obvious, direct competitors, but they're the indirect competitors too. So I want you to include both of them in your analysis. You want competition in your market. It validates your overall business. Very important. Don't shy your rate. Don't ever say I have no competitors, I don't have to worry about competition. And finally, you want to make sure that you know everything that you possibly can about your competitors. That is so very important. One thing that I want to make sure that you understand more than anything else is that you know everything possible about your competitors. Now, this is constant researching, gathering information about them. This never stops, this goes on forever. And I can't tell ya how many times I've…
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