Competitive Market Analysis

Name:

Date:

Business competition analysis illustration

📚 Part 1: Understanding Competition

1. What is a competitor in business?

A business that sells the same or similar products/services

A customer who buys from your business

A supplier who provides materials

A government agency that regulates business

2. Which of these are reasons why businesses analyse competitors? (Select all that apply)

To understand market trends

To identify business opportunities

To copy exactly what competitors do

To improve their own products or services

To set competitive prices

3. A competitive advantage means:

Having more employees than competitors

Something that makes a business better than its competitors

Being located in the city centre

Having the most expensive products

4. Complete this sentence: Market share refers to the _____________ of total sales in a market that a business controls.

Answer: _______________

🔍 Part 2: Competitor Analysis Activity

5. Choose ONE market sector from the list below and write it here:

Options: Fast food, Sportswear, Mobile phones, Streaming services, Coffee shops, Gaming consoles

6. Identify THREE major competitors in your chosen market sector:

Competitor 1: _______________

Competitor 2: _______________

Competitor 3: _______________

7. For ONE of your competitors, list TWO strengths and TWO weaknesses:

Competitor name: _______________

Strengths:

1. _______________________________________________

2. _______________________________________________

Weaknesses:

1. _______________________________________________

2. _______________________________________________

8. Explain how understanding competitors could help someone starting a new business in this market:

💡 Part 3: Business Strategy

9. If you were starting a business in your chosen market, what would you do differently from the competitors you researched? Give TWO specific strategies:

Strategy 1: _______________________________________________

___________________________________________________

Strategy 2: _______________________________________________

___________________________________________________

10. Extension Challenge: Choose one competitor's weakness you identified. Suggest how that business could improve to address this weakness:

Competitive Market Analysis

Competitive Market Analysis

📚 Part 1: Understanding Competition

🔍 Part 2: Competitor Analysis Activity

💡 Part 3: Business Strategy

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