The company you’re going to compare with is Verb360. https://verb360.agency/
Your business will always have competition. If you do not know your competitors and what that competition is up to, you may be missing out huge opportunities. For this individual assignment, you’ll identify businesses that could be considered competitors of the small business you’re collaborating with for this course. The competitor businesses should be based in Canada – anywhere in Canada is fine. The competitive analysis will give you a broad view of where your client’s business fit in the market and will help you better approach the client’s target customers. The information you gather from your competitive analysis will be important to come up with strategies for your client in the final project report.
You are collaborating with a small business client this term. This assignment will help you to understand the competitive landscape of your client. Your competitive analysis report should consist of the following sections. Please go over the instructions carefully before writing the assignment.
1. Choose two companies that could be considered competitors of your client that you are collaborating with this term and discuss why they are competitors. The companies should be of similar size and have similar product/service offerings.
2. Research each of the two companies in-depth and gather data on the following factors.
Discuss the following factors of each company in your analysis:
• Market size and growth potential
• Competitive landscape and market share
• Key market trends and drivers
• Strengths, weaknesses, opportunities, and threats (SWOT) analysis
• Product/service offerings and innovation strategies
• Market positioning
• Pricing and promotion strategies
• Financial performance
• Management and leadership style
3. In a couple of pages, analyze and compare the companies with your client across the key factors among the above factors.
4. Use your analysis to identify key strategic factors that determine the success of firms operating in this industry. For example, are there specific product features, marketing tactics, or pricing strategies that are critical for success?
5. Finally, provide recommendations for your client on how they can improve their competitive position within the industry based on your analysis. Be sure to support your recommendations with evidence and analysis.
