Competition

• Competition has many connections to overall business strategy
  • Company Aspirations: Why your company exists
  • The industry analysis will begin to identify the strength and origination of your competition
  • CSFs are influenced by industry competitors
  • SWOT analysis, value proposition selection, and creating a competitive advantage.
  • Market segments selected and targeted
• Fundamentally, competition is “good”
• Ask your customers
  • How do you make buying choices?
  • Why do you buy from XYZ currently?
  • What do they do well and not so well?

Key Questions

• What are their products/services strategies?
• Target market and value proposition?
• Does their segmentation strategy overlap with yours?
• Competitor SWOT?
• Where are they headed in the future with their products/services, customers, markets, etc.?
• What are their short and long-term goals?