BBA Project 5.3 Competitor Analysis and Strategic Response

Competitor Analysis and Strategic Response 1. Competitor analysis: Define your competition, by category and specific name, which provide similar products or services identified in your business proposal. Identify specific opportunities for your product and/or service and potential threats to your market entry. 2. Competitor profile: In this section, you must describe at least five major competitors for your product or service. Identify the strengths of each competitor (e.g. efficiency, quality, customer responsiveness, or innovation). Also, identify competitor weaknesses that you can exploit as part of your business plan for your product or service. 3. Key benchmarks: Identify and describe key product or service characteristic that will determine your success in the competitive market you have identified. The following evaluation rubric will be utilized for this section of the business plan: • Define the mission, vision, values and goals for the organization included in your business plan proposal. • Identify and describe your competition, by both category and specific name. • Evaluate the competitive landscape for your business plan proposal by developing a SWOT analysis. • Evaluate your overall mission, vision, values and goals based on your competitive analysis. • Identify specific opportunities for your product or service based on your competitive analysis. • Evaluate the strengths and weaknesses of each of your competitors identified in the business plan. • Develop specific strategies in support of your business plan proposal that you can exploit. • Identify and describe key product or service characteristics that will determine your success in the competitive market you have identified in your business plan. • Submit a document that demonstrates understanding of the competency and learning outcomes.