“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
Think of five more competing interdependent firms.
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