Transcript 3.05-c competitive analysis

3.05-C
COMPETITIVE
ANALYSIS
COMPETITIVE ANALYSIS
• The Competitive Analysis consist of:
• Nature of competition (size, market share, growth potential, capital/
resources, image, marketing strategy, and target markets)
• Factors customers consider most important in choosing one provider over
another
• Competitors’ strengths and weaknesses compared to those of your business
COMPETITIVE ANALYSIS
• One reason why it is often important for businesses
to conduct a competitive analysis is to identify
factors external threats.
competitive analysis
• In a competitive analysis, a business should monitor its rivals'
marketing strategies.
• A business can learn about its competitors' activities is by reviewing
secondary data.
Competitors’ strengths and weaknesses
• Corporations is a form of business ownership that can
raise money easily
• A disadvantage of a general partnership is that each
partner is liable for the business's losses