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3.05-C COMPETITIVE ANALYSIS
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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
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COMPETITIVE ANALYSIS One reason why it is often important for businesses to conduct a competitive analysis is to identify factors external threats.
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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.
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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
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