Competitive assessment allows organizations to identify the competitors
in their market and how they can compete against them.
The following points are important while performing a competitive assessment:
- Identify similar products/services in the market that are direct competitors to
a client’s product/service.
- Compare the product/service to competitors' products/services (features, service,
quality, price, distribution, brand,).
- Describe the companies that produce these products/services.
- Describe the concentration within the market (such as large number of small players
or small number of large players).
- Describe the current competitive intensity within the market (cutthroat competition
or live and let-live).
- Describe the ease of entry of competitors into this market (can competitors easily
enter the market and drive prices down).
- Describe how clients will compete against these competitors and their products –
(low cost, niche market, product differentiation,)