“You can’t look at the competition and say you’re going to do it better. You have to look at the competition and say you’re going to do it differently.” – Steve Jobs
Many businesses offer the same product. You, the consumer have a choice. That choice will be influenced by a number of things, such as price, service, reputation, and image.
Why do entrepreneurs need to consider the competition?
Have you given any thought to who your competitors are?
- Read Competitive intelligence
- Think about competing interdependent firms you come across every day. These examples were given in the text:
- Coke / Pepsi
- Honda / Toyota
- Boeing / Airbus
WEnote
Think of five more competing interdependent firms.
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“You can’t look at the competition and say you’re going to do it better. You have to look at the competition and say you’re going to do it differently.” – Steve Jobs
Many businesses offer the same product. You, the consumer have a choice. That choice will be influenced by a number of things, such as price, service, reputation, and image.
Why do entrepreneurs need to consider the competition?
Have you given any thought to who your competitors are?
Required reading
WEnote
Think of five more competing interdependent firms.
Post your comment(s) below and then look on the course feed page to see what others have posted.
You must be logged in to post to WEnotes.
If you prefer you can create a post on your learning journal blog. Be sure to label or tag your post IENT101.
Note: Your comment will be displayed in the course feed.