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there are several factors to look at. The primary one would be market share of the company relative to others that provide the same service or would be considered as substitutes belonging to the same industry. If the company is a market leader, it would look at those companies coming in second, third, and fourth and so on. Brand perception and awareness can be assessed using customer surveys. Competitors should also be identified at inception, the company should have an aggressive strategy that identifies other companies that may be competition in the future. who are the up and comers? which companies are engaged in aggressive advertising? which have a unique product or attention catching brand?

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