05 01

Competitive analysis business plan

competitive analysis business plan Including a competitor analysis in your business plan. It can help you understand your business’s competitive advantages and disadvantages in your industry. How to Write a Competitive Analysis for a Business Plan The Competition Analysis can be a difficult and intimidating section of the business plan. Undertake competitor analysis and competitive analysis to ensure you have a good grasp on what competitors are doing in the marketplace. Undertake competitor analysis and competitive analysis to ensure you have a good grasp on what competitors are doing in the marketplace. Including a competitor analysis in your business plan. It can help you understand your business’s competitive advantages and disadvantages in your industry.

A Competitive Analysis Example to Give You a Running Start

However, sellers of new equipment do indirectly compete with our business since a customer who buys equipment no longer needs to rent equipment.

Later, when we add new equipment sales to our operation, we will face competition from online retailers. We will compete with new equipment retailers through personalized service and targeted marketing to our existing customer base, especially through online initiatives.

Opportunities

  • By offering mid- to high-end quality equipment, we provide customers the opportunity to "try out" bikes they may wish to purchase at a later date, providing additional incentive (besides cost savings) to use our service.
  • Offering drive-up, express rental return services will be seen as a much more attractive option compared to the hassle of renting bikes in Harrisonburg and transporting them to intended take-off points for rides.
  • Online initiatives like online renewals and online reservations enhances customer convenience and positions us as a cutting-edge supplier in a market largely populated, especially in the cycling segment, by customers who tend to be early technology adapters.

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