Competition includes all players offering similar or replaceable products or services to yours. Analyzing the competition is imperative to discover your distinctive assets, which make you preferable to them. A thorough competitive analysis will help you detect the strengths and weaknesses of your competitors, as well as their pricing, distribution and communication strategies. To collect this information, you can use direct methods such as mystery shopping or indirect methods through sources such as websites and social networks.
Obviously if you are in an area with a lot of competition, it will be more difficult for you!
Define the product and service offering
Your product and service assortment represents what you plan to russia whatsapp number database offer to your target customers. It is imperative to shape this offer by taking into account market needs and competitive presence. To do this, analyze the specificities, advantages and costs of what you will offer, and decide on the suppliers, partners and distribution methods to use. Also opt for a strong positioning, defining the identity you wish to project (e.g. quality, specialization, innovation).
As mentioned above, you can specialize in a discipline, a type of product, original brands, but also on more innovative aspects such as Made in France, eco-responsibility, etc.
Planning the financial aspects
Financial planning is essential to assess the feasibility of your project, anticipate financing needs and risks, and attract investors. This step involves drawing up a financial forecast, estimating your anticipated expenses and income, and developing a financing plan identifying the sources of capital needed (personal contributions, loans, grants, etc.).