Competitive analysis article 2

Question 1

Categorization of competitiors

Answer 1

Categorize competitiors into primary, secondary or tertiary competitors:

Primary: Sell same/similar product to same customer.

Secondary: Sell a different product to the same customer to meet the same needs or sell the similar product to meet different needs of customers (targets a different audience) ex: supplements for cognition and focus or beverages for simple pleasure (Sodas etc.)

Tertiary: Sells similar products that meet similar needs you may sell if your company expands Ex: Supplement powders

Question 2

Pricing

Answer 2

Make sure that your prices are similar or lower than your competitiors. If not be sure the product makes for a higher cost by offering more features.

Question 3

Shipping costs

Answer 3

Make sure the shipping costs of your product are comparable to that of your competitiors or make up for it by providing free give ways on social media, personal gift cards or very good customer support.