Competitive Analysis

The benefit of a competitive analysis is that it allows you evaluate and compare some of your business’ closest competitors to one another, allowing you to then take the results from the analysis to apply to your business. This not only allows you to learn about your competition, but also teaches you a lot about your potential target market at the same time. From the evaluations of your competitors, you will learn what attracts consumers to choose their business and what may not be as appealing to consumers as well. As I previously pointed out, you can use the results from the competitive analysis and apply them to your business. This is where your company’s value proposition comes into play and ties into the competitive analysis. The two work together to help a business determine things they will provide potential consumers in order to attract them to select their business over some of their competitors. After completing a competitive analysis for our primary and secondary competitors, we learned a lot about our business venture in comparison to our competition. Doing a thorough evaluation of our analysis, we learned that our business provides potential consumers with a more personable level of training at a more affordable price. Another thing I took notice to is that our business provided consumers with one definitive price, unlike some competitors who vary depending on the service or the trainer. Once completing this and then taking the time to review our original business model/plan, I believe we can take a look at adjusting some of our strategies and pricing when it comes to our business. I believe that we can look to focus a little bit more attention toward one day camps; which I believe we can charge a little bit more for, as many one-day camps are extremely expensive.