Competition Questions

Competition Questions

Getting to know your competitors in a way that will benefit your business means knowing the answers to the following questions.

1.Who are your direct and indirect competitors?
2.What are their products and services, and what makes them different from each other?
3.Are they successful? What is their market share and is it increasing or decreasing?
4.Do they offer a broad or narrow range of products and services?
5.Do they target a specific segment of the market?
6.Is their profit based on quality or volume of sales?
7.What is their average selling price and profit margin?
8.Do consumers think their prices are low, high, or just right?
9.How often do they offer discounts and what kind?
10.How much do they spend on advertising?
11.Where and when do they advertise?
12.What types of special promotions do they use?
13.Is their product or service known by its brand name?
14.How large is their sales force?
15.Where are they located?
16.What is their distribution method? (Do they use brokers, agents, wholesalers, salespeople, direct marketing?)
17.What are their overall strengths?
18.What are their overall weaknesses?