Who are your past, present and potential customers? Which products and services are bringing you the most profit? Can you expand to new markets? What opportunities are you missing on? Who are your main competitors? How can you position yourself better?
These are just some of the questions we can answer with a good market and competition research. Now, maybe more than ever, it is important to make data-driven decisions and base your strategy on the deep understanding of the market. This is the only way for your business to not only survive, but thrive and grow.