Competition Project

Research Project > Competition Project

Florida Virtual School ENTREPRENEURSHIP NA Now it’s your turn! You get to research a business and conduct a SWOT analysis. You will also research its competitors to help you identify its strengths, weaknesses, opportunities, and threats. Remember, a competitor’s strengths and weaknesses can be threats or opportunities for the business. Part 1: R ...[Show More]

Florida Virtual School
ENTREPRENEURSHIP NA
Now it’s your turn! You get to research a business and conduct a SWOT analysis. You will also research its competitors to

help you identify its strengths, weaknesses, opportunities, and threats. Remember, a competitor’s strengths and

weaknesses can be threats or opportunities for the business.

Part 1: Research

1. Choose a business to research, along with at least two of its competitors.

 Business name: Costco

 Industry or type of business: Retail

 Direct competitor name: Sam’s Club

 Indirect competitor name: Target

2. Conduct competitive intelligence to answer as many of the following questions as possible regarding the

business and its competition. Questions are for reference only and will not be graded. More reference questions

can be found in the lesson.

 What is the business doing well, and what can be improved? A competitor’s strengths can be a threat to the

business. Retaining Employees and Customers, Good Product Base, New products all the time, Product

availability,

 What positive or negative feedback have customers given? Positive- Love goods and services, Family

atmosphere

 Negative- Why membership is needed,

 Who are the current and potential competitors (direct, indirect, and/or substitute)?

 In what areas does the business outperform or underperform competitors? Outperform- Sales, Quality,

Longevity of Membership

Underperform- Don’t always bring in enough product to meet supply and demand.

 What is unique about the business, its products, or its services that the competition does not offer? Quality

and variety, clean atmosphere, Quality of Kirland Brand.

 What is the business's strongest asset? Employees.

 Where does the business lack in resources or expertise? Resources- Vendors accommodation ExpertiseKnowledgeable buying staff.

 What emerging trends can be capitalized on? Staying up on current market expectations.

 What other markets or audiences can be tapped into, and who is the competition for those markets?

 Is there a chance of losing a supplier the business is dependent on? Yes there is a chance if they break the

vendor agreement.

 What weaknesses can leave the business vulnerable to the competition? Negative Staff

 What economic or political issues could impact the business? Gas Prices, Housing, interests rates, health