MBA 610 Competitive forces that affect your industry
VI. Competitive Analysis (35 points) This is for a convinience store.
Explain the competitive forces that affect your industry and/or market segment (i.e., rivalry among existing firms, threat of new entrants, threat of substitute products, bargaining power of suppliers, bargaining power of customers).
Define your major competitors’ future goals, current strategies, and assumptions about the industry.
Compare the company’s strengths and weaknesses with those of its major competitors.
Provide an analysis of how the company’s management plans to capitalize on competitors’ weaknesses and how it will counteract competitors’ strengths. Understand the competitions’ strengths and weaknesses, as well as your own, are key to defending your market share, uncovering market opportunities and developing an effective unique selling proposition.
Explain how the company differentiates/will differentiate its products/services from the competitions.
Describe how your company will monitor the competition on the continual basis.