ABSTRACT
Incorrectly, many entrepreneurs think that their products are so unique that there is no competition. They are convinced of their product’s superiority by its new features. However, even though competing products may not look or function identically, customers may still consider them alternatives. Therefore, any entrepreneur should identify and analyse alternatives and competitors carefully. If you can determine why and when some customers prefer one alternative over the other, you may begin to see patterns of competitive forces and will be able to make better marketing decisions.
