Week 4: Researching Your Competition
In this week’s 90-minute session, entrepreneurs learn to assess competitors' strengths, weaknesses, and marketing strategies through research and online feedback, use those insights to outmaneuver rivals, and conduct a survey to determine average market pricing and key marketing channels for their product or service.
For this week:
Watch this week’s tutorial.
Review the Products & Services Handout, which lists 10 examples of products and services at the top. Scroll down to look over the completed example surveys in Competitive Tables A and B to understand the goal.
Using the Competition Survey Spreadsheet, choose one product or service and follow the instructions on your competitive survey. You will conduct an "apples-to-apples" comparison of at least 5 competitors that sell the same product or service to determine the average price and the primary marketing types needed. In the comments section, make a note of each company’s branding & logo strategy.