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Competitor Analysis

Areas to be covered in the Competitor Analysis section:

Market Share

Include figures of the market share of each competitor, ideally in both value and quantity terms.

Product / Service Characteristics

For each competitor analyse the characteristics of the product or service. This includes price, quality, distribution, and service (e.g. after-sales support).

If price and quality are the main points of differentiation in your industry you can map them onto a graph, helping to illustrate the current industry situation and any gaps in the market.

Strengths

This includes any advantages as a result of the current market position, levels of brand recognition, potential to respond to a threatening new entrant, and any cross-promotional partnerships.

Weaknesses

This could be anything from weaknesses in the product to poor customer service and reputation issues.

Remember to distinguish between companies taking advantage of their dominant position through charging higher prices and those companies that are charging higher prices because their costs determine that they have to. A weakness is only a real weakness if the company cannot instantly adjust its strategy.

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