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A deep understanding of competition and your comparative strengths and weaknesses is imperative to the development of a successful growth strategy.
Tompkins' competitive analysis tools cover competitor profiling, SWOT and benchmarking. The competitive analysis involves both primary and secondary research to develop an industry snapshot.
Tompkins uses a five-step benchmarking methodology which results in the identification of best practices, strategies, and performance metrics. See the Five-Step Benchmarking Path to Competitive Intelligence.
Want to know how to incorporate benchmarking and best practices into your overall operations? Find out how here.
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