3.05-C COMPETITIVE ANALYSIS

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Presentation transcript:

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