MARKETING Competition

Direct vs. Indirect Competition Direct Competition is where products or services which perform the same function compete against each other.

More Direct Competition Walmart and Target Cineplex and Empire Theatres McDonalds and Wendys

Direct vs. Indirect Competition Indirect Compeition (or Substitute products) where products which are close substitutes for one another compete

So, how do we compete? SWOT analysis is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture.

SWOT Analysis (Internal) Strengths: characteristics of the business, or project team that give it an advantage over others Weaknesses: are characteristics that place the team at a disadvantage relative to others

SWOT Analysis (External) Opportunities: external chances to improve performance (e.g. make greater profits) in the environment Threats: external elements in the environment that could cause trouble for the business or project