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Competitive
BUSINESS ITEM WHAT TO DO YOUR COMPANY
Complete your competitor profile and a
profile for your three most important competitors. Try to get as much of the OVERVIEW & PROFILE following information as possible.
Think about what makes your company
different than your competitors. Next, do the same thing for your three competitors. If you’re struggling, pick up the phone and give your competitors a call – just ask them! Go one step further and actually talk to their customers. COMPETITIVE ADVANTAGE Identify who your target market is (if you don’t already know) and then do some research on your competitors to see who their target market is. A good place to start would be their website and looking at their advertising campaigns. TARGET MARKET This may be more challenging to get this data, but you can make a judgment based of some factors such as how many store locations they have, how many social media followers are in their networks, how many stores their product is found MARKET SHARE in.
Write down your current marketing
strategies and any you have in the pipeline. Now get moving and see what your competitors are doing – give them a call, do some research on their site – do whatever you can to become more familiar with their strategies. MARKET STRATEGY Rate your company then your competitors on a consistent scale of 1-10 when it comes to your product or service and how customers respond to it. Look for peer reviews or online reviews for this information PRODUCTS & SERVICE Answer all these questions about your company and your competitors. Pricing is an observable source so you should be able to get most of the answers by looking at your competitors offerings. PRICING & COST Look at your company’s and your competitor’s distribution channels – how many channels and intermediaries are being used? Do they spend more time in front of the clients? DISTRIBUTION CHANNELS
This part of your overall SWOT analysis
for your company and your competitors. Identify the strengths that your company STRENGTHS and your competitors face.
This part of your overall SWOT analysis
for your company and your competitors. Identify the strengths that your company WEAKNESS and your competitors face.
This part of your overall SWOT analysis
for your company and your competitors. Identify the strengths that your company OPPORTUNITIES and your competitors face.
This part of your overall SWOT analysis
for your company and your competitors. Identify the strengths that your company THREATS and your competitors face.