Competitive Analysis in a Business Plan

The video tutorial explains competitive analysis, focusing on identifying competitors and substitute products in the market. It discusses the importance of understanding buyer and supplier power, as well as barriers to market entry. The tutorial also covers strategies for entering the market, such as differentiating value offerings or focusing on niche markets to compete effectively.

What is the purpose of a competitive analysis in a business context?

How can substitute products impact a business's value proposition?

What factors should be considered when assessing buyer and supplier power?

What are some common barriers to entry in a competitive market?

In what ways can a business differentiate its value offering to compete effectively?