Week 6 Integrative Assignment: Competition
Describe your company’s main competitors. Remember, our more direct competitors are typically firms that utilize similar strategies, have similar capabilities (refer to the concept of strategic groups), and target similar consumer segments. Try to at least find the top 3 main competitors of each firm.
Briefly describe at least one key strength and weakness. For example, what is the main value proposition they offer to customers? If you are analyzing Target one of your main competitors is Wal-Mart. Its key strength is its cost position and a key weakness may be product quality.
Understanding the key strengths (and weaknesses) of your competitors will ultimately help you to draft comprehensive strategic plans.