Define your current competitive situation

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After completing the steps above, you will have a good idea of ​​how you stand in the competitive landscape . You will know whether you are competing in a perfectly competitive market, a monopoly market, an oligopoly, or a monopoly.

You will also be able to determine your position relative to guatemala phone number data other competitors. In other words, whether you are a leader, an equal competitor, or an outsider. Each specific situation requires a specific set of logical short-term and long-term goals and strategies.

Now it's time to define your own company's strengths and weaknesses in relation to these competitors. This is the next step. A good example of a substitute is when a new technology emerges and threatens to disrupt your industry, such as the iPhone disrupting the mobile phone market.


Step 2: SWOT analysis for PPC marketing
SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. A SWOT analysis is a strategic planning tool that helps you identify and understand the internal and external factors that can positively or negatively affect your business.