Competitive Analysis and Advantage Paper
Competitive Analysis and Advantage Paper
Final Team Project: Strategic Business Plan
A strategic business plan is a step-by-step guide a business puts in writing to achieve its business goals and objectives. It is an internal document that executives use to envision the future, set goals, and strive towards success.
Section 5: Competitive Analysis & Advantage (35 points) – – Should be about 5.5 – 6 pages
Your competitive analysis doesn’t have to be a thorough report listing every detail about every competitor. Rather, identify the key differences and similarities that will impact your decisions and profitability. Most importantly, use this analysis to determine your current competitive advantages and ways to develop additional advantages. Perhaps your products are better quality at a lower price. Emphasize these types of details. Be sure to answer the following questions:
- To what part of the market are your competitors trying to appeal?
- Can you appeal to the same market in a better way? How (can you steal market share!)?
- Who is your best competitor (who you strive to be like/ compete with)?
- Who is the most relevant competitor (most likely to impact you)?
