This important section of the market study includes:
- Summary of Current Competitors
- Listing by market share ranking (by each target market if possible)
- Current Competitors – full analysis of top competitors including:
- Products & Services (e.g., description, uniqueness, pricing, etc.)
- Market share
- Current customers
- Positioning and promotion strategies
- Recent news
- SWOT Analysis – Strengths, Weaknesses, Opportunities & Threats
- It is extremely important to focus attention on the SWOT section of this report. While most other information in this report can be gleaned from company and secondary materials, much of what appears in the SWOT section is based on the researcher’s own perceptions of the competitor based on the information collected. Consequently, this is often one of the hardest areas of the report to write.
- And other information as shown in the examples in the next section
- Potential Competitors
- Explanation (though not as detailed as Current Competitors) on who they are or maybe and why they are seen as potential competitors
In the next section we continue our discussion of competitive analysis by offering guidelines for constructing this section of the market study.