For example, it may be that your competitor's sustainable production process ensures that its product distinguishes itself in the market and therefore sells better.
That can affect the way you and your competitor produce or offer a product or service. Research by the Consumentenbond (in Dutch) shows that more than 70% of consumers consider sustainability important when purchasing a product or service. Focus your research on your direct competitors. An indirect competitor may also be located in a region that your company does not focus on. Indirect competitors sell a different product or service that aims to satisfy similar needs, providing an alternative to your offering. Direct competitors offer the same product or service that you do. Make a distinction between direct and indirect competitors. What does a competitor analysis model look like? Direct and indirect competitorsįirst, find out who your competitors are. Such an overview also provides data for your SWOT analysis. With a competitive analysis you list the strengths and weaknesses of your company and compare them to your competitors. A competitor (or competitive) analysis will help you. So take a good look at your competitors and distinguish yourself from the rest.
What makes your business successful? Perhaps you achieve success if your product is better or cheaper, or if you provide better service than your competition.
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