Below is the answer and explanation for when defining a strategy for your business, how can competitor analysis help you establish a USP (or unique selling point)?

When defining a strategy for your business, how can competitor analysis help you establish a USP (or unique selling point)?

• It can enable you to offer discounts that compete directly with your competitors’ pricing.
• It can identify how your offering is different in comparison to your competitors. ✅
• It can give you deeper insight into the market and their approach.
• It can reveal which additional regions you could be operating in so that you can grow your business.

Correct answer

It can identify how your offering is different in comparison to your competitors. ✅

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