How can you prepare for a crisis using competitive analysis?
A crisis can strike any business at any time, whether it's a global pandemic, a cyberattack, a negative review, or a product recall. How can you prepare for a crisis using competitive analysis? Competitive analysis is the process of evaluating your competitors' strengths, weaknesses, opportunities, and threats (SWOT) to identify gaps and opportunities in your market. By using competitive analysis, you can anticipate potential crises, plan your response strategies, and gain an edge over your rivals. Here are some steps you can follow to prepare for a crisis using competitive analysis.