Analysing Competitor Strengths and Weaknesses

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

Market Share• One brand’s sales as a percentage of all the

sales in the market

Broadband, UK 2012

TASK: Polo mints

• Analyse competitor strengths of weaknesses

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

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

Breaking down the product

• Strengths– What makes it good?– Why do people buy it?

• Weaknesses– What frustrations do people have when using it?

TASK• Analysing Competitor Strengths and Weakness

Presentation– Kingfisher leisure centre

– Albany Park Canoe and Sailing Centre

– Apple Computers at Canbury

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

Sam’s Brasserie

Money for old rope

Setanta