When evaluating competitors, several key factors should be considered:
1. Market Share: Determine the size of the market and the share that each competitor holds. 2. Products and Services: Analyze the range of products or services offered by competitors, including their features, benefits, and pricing. 3. Target Audience: Understand the demographics and preferences of your competitors' target audience. 4. Marketing and Sales Strategies: Evaluate the effectiveness of your competitors' marketing and sales tactics. 5. Customer Reviews and Feedback: Look at online reviews, testimonials, and social media mentions to gauge customer satisfaction. 6. Financial Health: Assess the financial stability and profitability of your competitors.