Ancient Chinese military theorist Sun Tzu said: "Know the enemy and yourself, and your victory will never be in danger. Know the ground and the weather, and your victory is certain".
In the XXI century world of business parlance, it means that every successful executive must possess maximum information on his own business as well as on his competitors' business.
1. We begin our Competitive study with understanding of competition landscape in the market:
- Competitor segmentation
- Approximate number of the competitors in target market
- Approximate competitor concentration (e.g. top 20 competitors account for XX% of supply, etc.)
- Market shares held with each competitor group and with large competitors
2. The next stage is identification of top (major) competitors – current and likely future.