Competitors impact on a business
improving customer satisfaction1 way a competitor inspires a business.
What is 1 way a competitor inspires a business?
Allows you to analyze and differentiate from competitors
How does understanding your competitors help you?
Competitors that have a similar target audience but offer different product and services
What are indirect competitors?
Pepsi and Coca Cola
what are some examples of competitors?
apple's competitors are...
samsung
How competitors pose as a threat to other companies
What is competing for resources?
Competitors motivate to do more than just the average standard
What is competitor motivation?
Competitors that sell similar products and services and share a target audience
What are direct competitors?
it is a key component of a company, it is another organization who provides similar product/service.
what is a competitor in a microenvironment?
nintendo's competitors are...
sony
Influencing pricing, innovation, and molding marketing efforts
What are 3 ways that competitors impact a business?
Competitors drive innovation and push you to create highest value and satisfaction
What is competitor rivalry?
Type of competitors don't currently offer similar products but potentially could in the future
What are potential Competitors?
they create competition from customers, drive you to be more innovative and affecting marketing strategies.
how do competitors directly affect the company?
mastercard's competitors are...
visa
Companies make strategic decisions based on their rivals, who compete to offer lower prices, better quality, and superior customer satisfaction to attract more buyers.
What is the impact of competition on business decisions?
Competitors drive innovation and improvement, and make organizations seek more opportunities to make their product the best
What is competitor significance?
Type of competitors are your biggest threat, they offer similar products and share a target audience
What are replacement competitors?
They want to maximize their success, grow their business bigger and lead the specific product market.
What is the ultimate goal for a competitor?
louis vuitton's competitors are...
Hermes