Introduction to business analysis: identifying and

getting to know the competition

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3-2Introduction to business analysis: identifying and getting to know the

competition• Define the business• Analyze the competitors• Learn from competitors• Do we know enough about the competition?

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3-2Competitor/Industry Analysis• Identify competitors (domestic and foreign),

potential competitors and possible substitutes in your marketplace. How do their products compare? How profitable are these competitors?

• What are the Societal and Industry trends affecting your product? Describe regulatory issues - federal, state, local, foreign. Show potential for growth within the industry.

• What advantages/disadvantages do you have versus the competition: price, quality, features, maintenance and service. How can you develop or sustain a competitive edge?

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3-2Definition of the Key Success

Factors of the Business

• What have in common the success businesses?• What is absolutely necessary in order to survive in this specific business?

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3-2Business analysis: the tools and

the technique• Field work– Direct monitoring of competition– Monitoring the competition through their promotion strategy• Desk work– Main sources of information

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3-2Main sources of information about

the competition

• Business report• “Grey press”• Business magazines• Government papers• Directories• Vortals• ………………………..

How to project a research

Information needed

Already available in MIS

To be provided through

Business analysis

Market research

Field

Desk

Existing research reports

Research performed by professionals

“do-it-yourself”

terr

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3-2Business report outline• Sector/industry definition

• Industry evolution• Regulations• Sector subjects, competitors list• Intensity of competition• “Game rules", entry barriers and key

success factors • Rating• Bibliography and sources of information

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3-2Sources

• Business reports• Degree papers, grey press

• Technical publications • Business magazines

• Economic press• Governative documents• Company documents

• Directories• Vortals

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3-2Research through Internet

• Finding information

• Monitoring the competition and studying the industry

• Identifying and download reports

• Conducting real research programs on Internet (web surveys)