GB 530 Course Great Wisdom / tutorialrank.com GB 530 Course Great Wisdom / tutorialrank.com | Page 17

3. Generic Competition (fulfills same general need/want)
4. Total Budget Competition (competes for same consumer dollar)
Product
Similarities to your product
Differences from your product
Competitive edge over your product
Deficiencies relative to your product
Positioning of the competitor
Pricing Strategies
Promotion Strategies
Placement/Distribution Strategies
CUSTOMER ANALYSIS (who is going to buy what you’re selling?)
1. Who are they? (demographics, socioeconomics, geographic
location, buyers vs. users, current and potential customers)
2. What will they do with your product or service? (product benefits,
product uses, complementary products, heavy vs. light users)
3. Where will they buy? (physical location, type of store, type of
distribution channel)
4. When will they buy? (seasonality, emergency situation, family life
cycle, process, budget cycle, effect of promotional strategy)