- Prepare a descriptive matrix describing the major competitors to the product/service you have presented. Consider direct, indirect, substitutes, and future competitors. What are their strengths and weaknesses? For example, a direct competitor of Coca Cola is Pepsi, and an indirect competitor is Snapple.
- Choose at least two competitors and one indirect competitor. Compare and contrast to your idea. Research how strong your competitors’ brand loyalty is and would consumers switch to your idea. Obtain recent advertisements of your competitors and explain the advertisements’ position. Include images of these advertisements. Explain how you would differentiate your advertising.
- Prepare your break-even analyses. A break-even analysis lets you know when your business will be able to pay the bills and make a profit. You may use Sore's Template.
- 6 years ago