9.4. COMPETITORS ANALYSIS.

A competitor is often defined as another company or independent entity offering

similar services or goods in the market. Knowing your competitors and what they have to
offer is very important in setting up a new business. This will motivate us to improve our
products, services, and marketing. Besides, this will allow us to competitively set prices and
help us to respond to marketing campaigns that compete with our own initiatives and efforts.
In business, companies in the same industry or similar industries that offer similar products
or services are considered competitors. As entrepreneurs, competition is a positive way for
our company to grow its business, which will help us to stay focused on our business.

COMPETITOR
STRENGTH WEAKNESS
S

 They have been in business for  Limited social media

a long time. sources.
VEGAMONIES  Already have a permanent  Ingredients that been use
customer. are not tasty.
 Have well promotion.  Unattractive packing and
 Have many other cornflakes labelling.
products.

 They have been in business for  The owner did not state
a long time. the shop location on
ROCKVEST  Already have a permanent online
customer.  Locations are far away
 Save budget as an online shop. from residents
 Poor customer service

1
  Already have a permanent
customer
AUROVIANA  Good customer services
 A good relationship with
customer and distributors
2
 Only used Facebook as
online media to promote
the business through
online
 Not delivery services
 Do not have any brand
logo.
3