You need to assess the strengths and weaknesses of your competitors.

[Liton120@]

You need to assess the strengths and weaknesses of your competitors. If there are weaknesses, is there a way in which you can exploit them to your own advantage? Maybe there are ways in which you can differentiate your product/service from theirs. Perhaps you could undertake ethnographic analysis in order to see if your product/service uk email lists could be aimed at a specific sector of the population. Around the Web Sponsored The Best Places to Buy College Apparel Make Showing College Pride Too Easy The Best Places to Buy College Apparel Make Showing College Pride Too Easy However, simply assessing your customers and competitors is not enough.


You need to have an overall understanding of the whole market and the potential of any new development. If not, you could fool yourself into believing that making a few thousand (million?) pounds a year more is as much as you can do, when in fact the potential could be considerably greater. A market research company can help you to see the overall picture and move away from limited thinking.




There are a lot of questions which need to be evaluated, not the least of which is what the overall size of the market, and is it expanding or shrinking? How many customers are there? How much competition is there? Are there any barriers to entry? Is there a possibility of new entrants increasing competition, or providing cheaper substitute products? All of these things need to be considered before you begin to invest in a new product or service.