Present a short discussion of each of the businesses' primary competitors in this sub-section. If available, include annual sales and market
share statistics. Each assessment should include the degree to which these companies meet their customers' needs. Explain how you can capture a share of their business.
- Which are the top 3 to 5 companies in your industry, when were they formed and what market shares do they command now?
- Why did these companies succeed and what is their competitive positioning ?
- Who are your direct competitors?
- Name the top 3 to 5 competitors and evaluate them on the basis of
- Years in business
- Market share
- Price/ strategy
- Product/ service
- What are the competitors' strengths and weaknesses? Consider such things as location, size of resources, reputation, services, personnel, etc.
- How does your product compare with your competitors on the basis of price, performance, service, warranties, and other important features?
- If you do not have competitors, is competition possible, and if so, from whom?
- What advertising and promotion media is most effectively used by your competition?
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