Competition Unit 1 Topic 1.1.4

Lesson Objectives Must learn: to analyse competition Should learn: to understand strengths and weaknesses of a business Could learn: to evaluate opportunities to get ahead of competition

Starter Brain storm – What is competition? Competition

Being Competitive 4. Price C. Having better products D. Dealing effectively with complaints Being Competitive 1. Quality & Design 2. Selling experience 3. After-sales service 4. Price 5. Brand image Being cheaper than rivals Starter Write 1-5 in book Then match to a letter B. Having a reputation which allows you to charge more E. Providing customers with good service

Being Competitive 4. Price C. Having better products 1. Quality & Design 2. Selling experience 3. After-sales service 4. Price 5. Brand image B. Having a reputation which allows you to charge more E. Providing customers with good service D. Dealing effectively with complaints Being cheaper than rivals

Analysing the Compeition A business must be aware of competitors and what they are offering:- Product Range Quality Design Selling Experience of competitor After-Sales Service Price Brand Image Suppliers

Competition To stay competitive, a business will aim to match or beat competitors on..... [now describe what these factors mean and why they are important] Competition Quality & Design Selling experience After-sales service Price Brand image

Analysing the Compeition

Plenary

Homework Think of a business idea. Identify and describe the market segments who might be interested in each style. Think about your competitors [all the other businesses selling products similar to yours] and decide how you will position yourself in this market. Depending on the position you are aiming for you need to make decisions on: Quality Selling experience After-sales service Price Brand image   Decide on how you will try and establish your brand in the market [logo, catch-phrase, publicity...]