Answer: An in-depth competitive analysis will provide you with the following: An understanding of how your existing and potential customers rate the competition. A positive identification of your competitor's strengths and weaknesses. A mechanism to develop effective competitive strategies in your target market. Knowing who your competitors are, and what they are offering, can help you to make your products, services and marketing stand out. It will enable you to set your prices competitively and help you to respond to rival marketing campaigns with your own initiatives.
Step-by-step explanation: