COMPetitor analysis worksheet for your handmade craft business
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I am Heather Bunker: Designer, branding genius, mom of 4 and DIY lover. This blog is a mix of business and fun - full of helpful tutorials, marketing insights and design inspiration!
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Having An in-depth investigation and analysis of your competition is one of the most important components of any marketing strategy.
A competitive analysis allows you to assess your thought’s strengths and weaknesses and pair them with your own business. it helps you take a look at your business in a different light and put you in a place where you can craft effective strategies to kick butt and take names.
WHY EVEN TAKE THE TIME?
A Competitive Analysis an Important Part of a Marketing Strategy and Helps you gain new insights about your handmade products.
Do you feel like you have a competitive lead? How long do you think you will have one if you dont know what your competition is doing? To really achieve and maintain an advantage in reaching and building a relationship with your target market you have to know all about your competition.
Creating a thoughtful analysis of your competition will help you with the following:
Help you understand your brand
Help you understand what your customers might think about your competition
Identify your competitions strength and weaknesses
Develop awesome competitive strategies for your target market and implement them.