Therefore, knowing the three types of competitors enhances computer
business plans. The business will be ready to attract all possible
customers, ensuring that competition is at a minimum.
Types of Competitors
Competitors can be head-to-head, first-tier, or indirect. Each of these
will be explained in further detail. It is important for every business to
consider all three types when writing computer business plans.
Otherwise, you may lose customers to another company that you were not
even aware was a competitor.
Head-to-Head Competitors
Head-to-head competitors are the most intense. Customers will often
compare these company's products and services to yours. These are
companies that are exactly like yours.
For example, a computer repair business is in head-to-head competition
with another computer repair business. Know the competition's prices,
features, and benefits. Include your strategies to overcome these
obstacles in the computer business plans.
First-Tier Competitors
First-tier competitors include companies that may offer similar
services. For example, a computer repair company may compete with a
computer reseller business.
Although the competition is not as fierce, these are direct competitors
and should be included in computer business plans.
Indirect Competitors
These competitors are the ones that are often neglected. Occasionally,
these companies' products or services will surface as an alternative to
yours.
Monitor these companies from time to time to ensure that new products
or services do not suddenly become available.
In Summary...
Computer business plans should detail all three types of competitors.
It is also important to track the competition. Schedule weekly reviews of
head-to-head competitors. Monitoring first-tier competition on a monthly
basis and indirect competition on a quarterly basis should be
adequate.
Just be sure to keep the number of competitors manageable. There should
be a handful of direct competitors and they should be watched most
carefully. By knowing the competition, you are better equipped to provide
customers the best value.
In this article, you've been introduced to computer business plans.
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