T.3.1. Essay: Analyzing the Competition It is important to

T.3.1. Essay: Analyzing the Competition

It is important to know that identifying the competition is the vital part of a product or service and of the company. Ignoring it can have disastrous consequences. A widely used concept to know the competition is known as “sectoral competition”, this is very helpful when performing the analysis.Instructions:Study the topic: Marketing with the competition. You can refer to the textbook or any other reference provided in the module that will help you complete your assignments.Then, write an essay where you present:Various classifications within the sectoral competence.Some recommended strategies to “attack” the competition and discover their strengths and weaknesses. Take a stand like: Discuss some ways to expand and extend your business or service.”The best way to challenge a leader is by attacking his strengths””The best way to attack a leader is to avoid a frontal attack and adopt a flanking strategy.”