There are a number of criteria that must be followed when evaluating key competitors.
Decision to launch a project
By analyzing, you can find out how competitive the future market niche is and whether there is any sense in implementing a new product there. And if it suddenly turns out that there is no competition, then you need to determine the reason for this phenomenon, or rather, why the segment is free.
In a highly competitive field, you can expect a small market share. Startups will have to italienische handynummer whatsapp work hard to attract the interest of the target consumer who previously bought products and ordered services from similar players.
However, despite the tough competition between private players in the divided market, there is a chance that new products will make it into the leaderboard. When Google Chrome first appeared on the market, the classic Explorer had a market share of 60%. Later, the new browser won back its well-deserved 70%.
Formulating the benefits of your product
In order for a product to be at least somewhat different from similar offers, it is necessary to determine the advantages and values of the latter. This requires an analysis of the market and the main competitors in the business plan. This will allow you to correctly formulate its parameters, surpassing the capabilities of analogues. Let's take a pizza delivery company as an example. The average waiting time for an order is more than 15 minutes. If you offer customers a time range of 5-10 minutes, this will interest a certain part of consumers who prefer fast services.
Reasons to Conduct a Business Competitor Analysis
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