University of Maryland – College Park Major Competitors Analysis To complement your prior analysis, this week’s interviews should focus on the competition,

University of Maryland – College Park Major Competitors Analysis To complement your prior analysis, this week’s interviews should focus on the competition, with the interviewees being those with insights on the below questions. Your insights and plans in this competition chapter should also be informed by your primary research and secondary research. The competition chapter of the business plan to be authored this week should address:
Who are your major competitors? Why do you consider them to be competitors?
Are they direct competitors or indirect competitors (have something similar but not directly competitive)?
What is their history? Did they discover the same problem? Have they built/do they offer the same type of solution as yours?
What are your competitive strengths and weaknesses? How do you compare?
How are they pricing their offering? How are they going to market-direct, channels, etc.? What is their marketing pitch and strategy?
How can you overcome their advantages?
Are any of them likely acquirers? If so, how can you tailor your solution to better position yourself for this outcome?
For this competition chapter, a 2-3 page single-spaced length is appropriate. Tables, graphics, and related visual tools to efficiently communicate key information is encouraged.Be sure to support your analysis and decisions with research and references. References may be included in APA format.For questions on this assignment, please email your faculty mentor, and/or join their online office hours this week. Are you trying to enter a
concentrated market?
Objectives
• Examine industry structure, with a focus on
market concentration, in the context of
entrepreneurial industry status
• Explore the impact of market
concentration on your success as an
entrepreneur
1
The Opportunity Analysis Canvas
TM
Industry
Condition
Entrepreneurial
Motivation
Competition
Industry
Status
Entrepreneurial
Mindset
Opportunity
Identification
Industry lifecycle
Industry structure
Value
Curve
Entrepreneurial
Behavior
Macroeconomic
Change
Defining company concentration
“the number of competitors in the
industry”
•
•
•
•
Capital intensity
Advertising intensity
Company concentration
Average company size
2
The “ideal” market concentration
• Industries with a small number of smallsized competitors present the preferred
scenario for new ventures
• Competing with a few small competitors is
more advantageous for entrepreneurs versus
competing with many large competitors
– Improves the likelihood of competing against
those with comparable resources and
relationships
3
4
5
Summary
• Industries with a small number of smallsized competitors present the preferred
scenario for new ventures
– Not always the realty of your industry
• Guides your strategies for competing
– Create and market a better product
– Partner with near competitors to increase your
collective resources versus large competitors
– Focus on a smaller market niche
6

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