Analyzing Competitors Flashcard

Front

How can understanding your company's strengths and weaknesses help you?

Back

It helps you make better business decisions

Front

Identifying your competitive advantage means that you are identifying your _____________

Back

unique strengths or capabilities

Front

What is your Unique Value Proposition (UVP)?

Back

A statement that tells potential customers
what your business is, how it can help them, and
why you are better than the competition.

Front

True or False: This passage is an example of a UPV

Back

True

Front

How can finding a gap in the market that your competitors are not filling help you?

Back

It helps you find a specialty to focus on

Front

How could you avoid mistakes that could cost you money when analyzing your competitors?

Back

You could analyze their failures

Front

How can you stand out when compared to your competitors?

Back

You could differentiate yourself

Front

What are some ways that you can identify customers' expectations when it comes to your competitors?
Options: Going into storefronts, Conducting customer surveys, reading customer reviews

Back

All of the above