Business Plan

Competitive Data

Two boys are hiking in the woods. All of a sudden they come across a 12 foot tall Grizzly Bear and her cubs. One of the boys immediately sits down and tightens his shoelaces. The other kid looks down at him and says, "There is no way we can outrun that bear." The first kid replies, "I'm not interested in outrunning the bear. I just want to outrun you."

The moral of the story - know who you are truly competing against.

Before making further decisions about your business, it is important to analyze the competition so you may adjust your marketing mix to provide a product or service currently being missed or not being done well. We have already looked at some of your potential business competitors target markets in the Demographic and Psychographics assignment.

 

Writing the Competitive Data Analysis

Introduction

Explanation of Competitors

SWOT ANALYSIS

Save as "Competitive Data" in your Business Plan folder