1. MARKETING
Competition

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

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

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

5. 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.

6. 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

7. 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