DUE WEEK 4
10%
35 MARKS
The objective of this assignment is to apply the concepts of competitive analysis to your
own business idea. By conducting thorough research and analysis, you will gain insights
into your business's competitive landscape, identify opportunities and threats, and develop
strategies for success.
Instructions:
You are required to perform a competitive analysis for your own business idea. This assignment
will help you better understand the market dynamics and competitive forces that will impact your
business's success. Follow the guidelines below to complete the assignment:
Part 1: Background and Business Idea
• Provide a brief overview of your business idea, including its unique selling points, target
market, and industry.
Part 2: Competitor Identification
• Identify at least three direct competitors in your industry. These should be businesses that
offer similar products or services to your business idea.
• Briefly describe each competitor, including their offerings, target market, strengths, and
weaknesses.
Part 3: SWOT Analysis
• Conduct a SWOT analysis for your business idea. Identify its strengths, weaknesses,
opportunities, and threats.
• Analyze the strengths and weaknesses of your competitors.
• Analyze the external opportunities and threats facing your business and its competitors.
Part 4: Competitive Advantage
• Based on your SWOT analysis, identify and explain your business's potential competitive
advantage over your competitors.
• Discuss how you plan to leverage your competitive advantage to position your business
in the market.
Part 5: Market Positioning
• Determine the positioning of your business in relation to your competitors. Are you
aiming for differentiation, cost leadership, or another positioning strategy?
• Explain how your chosen positioning strategy aligns with your competitive analysis.
Part 6: Strategies for Success
• Based on your analysis, outline strategies that your business can implement to capitalize
on its strengths, overcome weaknesses, and take advantage of opportunities.
• Discuss strategies to counter potential threats from the competitive landscape.
Part 7: Conclusion
• Summarize the key insights you have gained from your competitive analysis.
• Reflect on how this analysis will inform your marketing strategies and business decisions
moving forward.
Guidelines:
• This is a sectioned report make sure to use the above headlines to explain each part
• No longer than 2 pages (1000 words) and 1-2 paragraphs for each headline
• Citing sources: MUST BE ON A SEPARATE PAGE IN APA FORMAT
• Font: 12 Times New Roman; SINGLE SPACE
Assessment Criteria: (Rubric)
Your assignment will be evaluated based on the following criteria:
10 Points Thoroughness of competitor identification and description.
10 Points Depth and accuracy of SWOT analysis for your business idea and
competitors.
5 Points Clarity of competitive advantage explanation and alignment with
positioning strategy.
5 Points Creativity and effectiveness of strategies proposed for success.
5 Points Overall organization (including word limit and reference page),
coherence, and quality of writing.
