Competitors

Comparison of the competitive products

In order to obtain a clearer picture of the competitive products you complete the fist table of the planning. The information needed can easily be gathered. Compare the prices, the margins and the targeted markets.

Marketing strategies of the competition

To further understand how the competition is trying to gain market share, make a calculated guess as to how they plan to do this. What strategies are being used? Compare the strategies of the different competitors and draw your conclusions.

To evaluate competitive position the following factors are relevant:

• the number of (important) competitors
• the relative market share and its development
• the relative product quality
• the research and development possibilities
• the financial position of the company
• special market factors (long customer relationships, historic position)

• production possibilities and costs