Examine the websites and customer experiences of your competitors.
Determine your competitor's market positioning.
Take a look at their pricing strategy.
You can eliminate the losers and provide them more of the types of items they like by studying and analysing how customers respond to the products given in each catalogue. Begin by physically marking up a catalogue to record the number of units sold and sales for each catalogue item.
A competitive analysis assists you in assessing your competitors' strengths and weaknesses. You must study how similar firms operate in order to determine how receptive the market is to your business and what works and what does not.
The findings of your competition analysis will help you identify the talents you'll need to thrive in your retail business and pinpoint your particular competitive advantage. To get the most out of your study, turn as many of your competitors' problems into potential assets for your company.
A catalogue is a book or magazine that contains information and images about things that are currently for sale, especially for companies who conduct a lot of business via mail order.
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