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Introduction to business analysis: identifying and getting to know the competition

Learn how to analyze and identify competitors, understand market trends, and develop a competitive edge in your industry. Discover key success factors and gain valuable insights through various research methods.

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Introduction to business analysis: identifying and getting to know the competition

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  1. Introduction to business analysis: identifying and getting to know the competition

  2. Introduction to business analysis: identifying and getting to know the competition • Define the business • Analyze the competitors • Learn from competitors • Do we know enough about the competition?

  3. Competitor/Industry Analysis • Identify competitors (domestic and foreign), potential competitors and possible substitutes in your marketplace. How do their products compare? How profitable are these competitors? • What are the Societal and Industry trends affecting your product? Describe regulatory issues - federal, state, local, foreign. Show potential for growth within the industry. • What advantages/disadvantages do you have versus the competition: price, quality, features, maintenance and service. How can you develop or sustain a competitive edge?

  4. Definition of the Key Success Factors of the Business • What have in common the success businesses? • What is absolutely necessary in order to survive in this specific business?

  5. Business analysis: the tools and the technique • Field work • Direct monitoring of competition • Monitoring the competition through their promotion strategy • Desk work • Main sources of information

  6. Main sources of information about the competition • Business report • “Grey press” • Business magazines • Government papers • Directories • Vortals • ………………………..

  7. Already available in MIS How to project a research Field Desk Business analysis Existing research reports Information needed Research performed by professionals territories Market research To be provided through “do-it-yourself”

  8. Business report outline • Sector/industry definition • Industry evolution • Regulations • Sector subjects, competitors list • Intensity of competition • “Game rules", entry barriers and key success factors • Rating • Bibliography and sources of information

  9. Sources • Business reports • Degree papers, grey press • Technical publications • Business magazines • Economic press • Governative documents • Company documents • Directories • Vortals

  10. Research through Internet • Finding information • Monitoring the competition and studying the industry • Identifying and download reports • Conducting real research programs on Internet (web surveys)

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