Perform a Competitive Analysis using the focal company’s closest three competitors plus the selected company. Explain why these companies are competitors, using course materials for support of your rationale.

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An industry analysis that includes the three nearest competitors to the focal company can give valuable insight into trends and help pinpoint key areas in which each company might have an advantage. Company A is the first competitor. It offers products and services similar to that of the focal company, but at significantly less cost. Company A is the direct competition in price, due to its efficient operation and lower overheads. Company B offers similar products, but it focuses more on personalized customer service in order to stand out from the rest.

Company C, the third rival, targets bigger companies that have more complex needs. They are less likely to be concerned with pricing than the two other competitors. The focal company chose to be innovative to make it stand out and attract those who are looking for cutting edge solutions. Each company is competing because they seek market share in the same industry. Understanding the differences between each business will help businesses develop strategies that allow them to be competitive in this highly competitive market.

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