Marketing

Competition

A competitor is a business that provides the same goods or services as yours - or an alternative.

Your competition can be local, national or, increasingly, international.

Ask yourself these to identify and assess your competitors:

• What are the alternatives for your products or services?
• Who makes/sells these alternatives?
• What range of products or services do they have?
• What kind of choices do they offer customers?
• How broad is their range?
• What are their target groups?
• What are their future prospects?
• What are they good at and what are they not so good at?

Now go on to consider the other key elements of marketing:

• Customers
• Competition
• Product
• Price
• Place
• Promotion.