Continue to work on your business plan by using the document from Week 4.
Develop a 350- to 700-word Competitive Analysis section, including:
- Direct Competitors: Identify those companies filling the same customer need you fill with the same solution. For example, if you operate a young men’s clothing store, other clothing stores catering to young men would be direct competitors. Outline who your direct competitors are, and their strengths and weaknesses.
- Indirect Competitors: Indirect competitors are companies that fill the same customer need you fill with a different solution. For example, if you operate a young men’s clothing store, a full line clothing store who offers clothing for all ages would be an indirect competitor. Outline who your indirect competitors are, and their strengths and weaknesses.
- Competitive Advantages: Identify your Competitive Advantages in this section. Clearly state what allows you to effectively compete (and win) against both direct and indirect competitors.
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