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Competitor Strategies
Analyzing competitors' strategies to identify opportunities or threats.
Implications
The specific approaches and tactics used by competitors to achieve their business goals, such as differentiation, cost leadership, or market expansion, critical for understanding competitive dynamics.
Example
Example: A telecom company studies its competitor's strategies, noting a focus on bundling services to lock in customers, and adapts its own offerings accordingly.
Related Terms
Different from company strategies, which focus on internal plans, competitor strategies are about understanding and responding to the approaches used by rivals.
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