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Starter. Analysis of competitors Why is this important to identify competitors ? In pairs put down some ideas in the back of your books. Learning Objectives

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  1. Starter Analysis of competitors Why is this important to identify competitors? In pairs put down some ideas in the back of your books

  2. Learning Objectives • Appreciate that initial planning to set up a business will require recognition and investigation in to other businesses offering similar products/ services (competitors) • Understand that new businesses will need to find out more about their competitors – their strengths and weaknesses Success Criteria • Identify and explain the criteria used to judge competitors • Pick out the strengths and weaknesses of Easy Jet C > • Justify whether or not there is a gap in the market for another airline company B > • Analyse competitors strengths and weaknesses A > • QOWC and SPAG

  3. Criteria to judge potential competition • Product range • Quality • Product design • Selling experience e.g. store decor • After sales service • Price • Brand image (idea/ impression/ image that customers have in minds about the brand) • Suppliers

  4. SWOT ANALYSIS • SWOT stands for • Strengths • Weakness • Opportunities • Threats • Can you think of an example for each?

  5. Your strengths will be your competitors weakness Your competitors strengths may form some of your weakness SWOT Analysis: Mrs Hunters Dog Walking

  6. TASK Prepare to present your ideas to the class. • In small groups (3-4 students) • Conduct a SWOT analysis on large paper for Apple. • What are Apples Strengths, Weaknesses, Opportunities and Strengths? --- Business insight and history • http://www.youtube.com/watch?v=7CPWrK_nnjk

  7. Extension Questions • Why do you think its important to conduct a SWOT analysis? • What advice would you give Apple for the future? • Have you included examples to support your points? • Have you practiced what you are going to say?

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