Business & Finance homework help| Business & Finance homework help
An analysis of the three main competitors and the company in focus can give valuable insight into the industry’s trends. It will also help to identify areas where the company has an advantage over its rivals. Company A, which is the company’s first competitor, offers similar services and products to that of the focal firm but at significantly lower prices. It is a direct competitor in pricing due to its efficient operation and low overhead. The company B offers similar products, but it focuses more on personalized customer service in order to distinguish itself from the competition.
Company C targets larger businesses with higher-level needs, so it is likely that they care less about the price of their products than do either Company A or Company B. Finaly, to differentiate itself from this group of companies and to appeal to people looking for innovative solutions, the focus company chose to emphasize innovation. They are all direct competitors, as they compete for the same market. Understanding why they are unique will help businesses develop strategies to stay competitive in an increasingly crowded market.