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Analysing CompetitorStrengths and Weaknesses

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Learning Objectives• That initial planning to set up a business will require an analysis of the competitors in the market• How to analyse competitor strengths and weaknesses and that comparing a business offering with that of its rivals enables an entrepreneur to spot further opportunities

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Market Share• One brand’s sales as a percentage of all the sales in the market Broadband, UK 2012

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TASK: Polo mints• Analyse competitor strengths of weaknesses

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Customer Research• Primary Research: Get groups of consumers talking about the competition: – Why the use the good or service – What has been their experience (before and after buying) – Would they buy the same thing again

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Retailer Research• Secondary research: Your competitors may be loved by the public, but hated by the trade – Suppliers of the foods to the restaurants – Teachers taking school students – cleaners – Maintenance workers – Local council

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Breaking down the product• Strengths – What makes it good? – Why do people buy it?• Weaknesses – What frustrations do people have when using it?

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TASK• Analysing Competitor Strengths and Weakness Presentation – Kingfisher leisure centre – Albany Park Canoe and Sailing Centre – Apple Computers at Canbury

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Making decisions about the Market Segment to target• Market Segment: Sections of a market focused upon specific types of customer – such as children – Pensioners – Single women – Parents of young children

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Sam’s Brasserie

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Money for old rope

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Setanta