Answer to Question #79341 in Finance for Hugh Heron

Question

How could comparisons between your organisation and your competitors be useful?

Answer 1

Comparison between competitors and your organization provides the following benefits:

1. Understand your place in the market in a competitive environment
2. It makes it possible to form a unique positioning, different from the positioning of competitors
3. Comparison of services or products of competitors using the strategy canvas* [1] could form a unique offer with the most important qualities.
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* The strategy canvas is a central diagnostic tool and an action framework developed by W. Chan Kim and Renée Mauborgne for getting clear on the current state of play and making your blue ocean move.

1. Strategy of the blue ocean. How to find or create a market that is free of other players / W. Chan Kim, Renee Mauborgne. - M.: Mann, Ivanov and Ferber, 2014