When defining a strategy for your business, how can competitor analysis help you establish a USP (or Unique Selling Point)?
- A It can enable you to offer discounts that compete directly with your competitors’ pricing
- B It can identify how your offering is different in comparison to your competitors
- C It can give you deeper insight into the market and their approach
- D It can reveal which additional regions you could be operating in so that you can grow your business
Explanation:
When defining a strategy for your business, competitor analysis can identify how your offering is different in comparison to your competitors. Therefore, option B is the correct answer.