competition
Learning Objectives:
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Specification:
• 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 the comparing a business offering with that of its rivals enables an entrepreneur to spot further opportunities |
1.4_competition_v.3.pptx | |
File Size: | 814 kb |
File Type: | pptx |
1.4_competition_starter_activity.docx | |
File Size: | 170 kb |
File Type: | docx |
1.17_analysing_the_competition.doc | |
File Size: | 193 kb |
File Type: | doc |
Your suppliers can also have an impact on your competition. Most businesses will buy from wholesalers, however some businesses have exclusive rights to sell products straight from the manufacturer. Competitors cannot compete with this.
It is important to identify the strengths and weaknesses of you competition so that you can see where there is a gap in the market, in order to give yourself the best chance of gaining sales.
It is important to identify the strengths and weaknesses of you competition so that you can see where there is a gap in the market, in order to give yourself the best chance of gaining sales.