Uses of Competitive Profile Matrix
- Wednesday, November 19, 2008, 15:02
- Strategic Management
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Companies use competitive profile matrix to investigate their direct competitors. CPM can highlight the critical success factor of industry, organization try to find their weakness among define factors. Lets take an example of restaurant critical factors, food quality, environment and price comparing on these three areas will identify the strong and weak points. Once organization knows the secret of the competitors on which they are leading the business and grab the market share then knocking on the same doors in a different way can change the conditions.
Following are the benefits of CPM
- Find Critical success factor
-Identify direct competitors
-Strong and weak points of organization
-Strong and weak point of Competitors.
-Area need focus.
-Opportunities window for improvement.
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