Competitive Assessment

Competitive assessment allows organizations to identify the competitors in their market and how they can compete against them.

The following points are important while performing a competitive assessment:

• Identify similar products/services in the market that are direct competitors to your product/service.
• Compare your product/service to these products/services (i.e. features, service, quality, price, distribution, brand, etc.).
• Describe the companies that produce these products/services.
• Describe the concentration within the market (i.e. large number of small players or small number of large players).
• Describe the current competitive intensity within the market (cutthroat competition or live and let-live).
• Describe the ease of entry of competitors into this market (can competitors easily enter the market and driving prices down).
• Describe how you will compete against these competitors and their products – i.e. low cost, niche market, product differentiation, etc.