Assess your company’s market competition.
- Use the factors listed in the course text graphic (p. 123 | Assess the Competition) to assess your company’s market competition.
- Defend your strategy to successfully compete against market leaders in your segment.
- Hints: For example, in the soft drink market, it is intimidating to try to compete against Coke and Pepsi. Newcomers in mature markets typically must pursue niche markets or even create new market categories, as Red Bull did with energy drinks.
- Defend your plan to differentiate yourself from the competition using the information detailed on the worksheet in the text (p. 131 | Market Share Distribution).
- Hints: Every business faces competition and the non-alcoholic beverage market is an especially crowded market.
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