Investor Pitch - Competitors and Your Advantage

The video tutorial discusses how to identify direct and indirect competitors and develop a competitive strategy. It explains Porter's generic strategies, focusing on differentiation and cost leadership. The importance of understanding market share and leveraging existing competitive advantages, such as intellectual property and brand awareness, is emphasized to establish a strong market position.

What is the primary difference between direct and indirect competitors?

• Direct competitors offer the same product, while indirect competitors offer a different product.

• Direct competitors target a different market segment, while indirect competitors target the same segment.

• Direct competitors offer a substitute product, while indirect competitors offer the same product.

• Direct competitors have a higher market share, while indirect competitors have a lower market share.

According to Porter's generic strategies, what is one way a company can achieve a competitive advantage?

• By increasing the price of their products.

• By targeting a broader market segment.

• By differentiating their products from competitors.

• By reducing the quality of their products.

What is a key factor in determining the viability of a business in a competitive market?

• Focusing on a single marketing channel.

• Offering more product variations.

• Achieving a lower cost structure than competitors.

• Having a larger workforce.

Why is it important to identify the market share of existing players?

• To decide on the location of the business.

• To understand the level of competition in the market.

• To select the right suppliers.

• To determine the best pricing strategy.

What can provide a company with a competitive advantage in the market?

• Established intellectual property.

• A high advertising budget.

• A large number of employees.

• A diverse product line.