Question
Direct competitors are businesses that offer the same products or services as you to the same target market. For example, in the fast food industry, McDonald's and Burger King are direct competitors. Indirect competitors are businesses that offer different products or services but target the same customers with the goal of satisfying the same need. For example, in the entertainment industry, a movie theater and a concert venue are indirect competitors as they offer different types of entertainment but compete for the same leisure time and discretionary spending of consumers.
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Use this slide to list and discuss your top competitors. Make sure to include the vital information about them, such as what kind of competitor they are (direct or indirect), their positioning, pricing, strengths and weaknesses. With this slide, communicate the areas for competitive advantage improvement. These include corporate culture, under-serviced niches identification, unique value proposition establishment and your ideal customer DNA identification.
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