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Why competitor analysis is required for a start-up

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Reference no: EM133200720

Problem:

The aim of situational analysis is to understand the current and future environment in which the company operates so that strategic objectives are realistic in light of what is happening in the marketplace. Therefore, a review of digital business services offered by existing and new competitors is important in the digital marketplace.

Explain THREE (3) reasons why competitor analysis is required for a start-up or new venture company. Provide an example for each reason.

Reference no: EM133200720

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