V. Competitive Analysis
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Direct & Indirect Competitors
The most widely recognized eCommerce platform around the world, Competitor 1 is accepted as the gold standard for corporate brands and small business owners alike. With Competitor 1, one can take advantage of an eCommerce platform that offers a website builder with hundreds of templates, all of which can be customized with the brand’s specific logos, images, videos, and text. With vast customization control and strong analytics, Competitor 1 offers the most powerful eCommerce functionality on the company’s list while also being user-friendly enough for most beginners to manage.
Competitor 2 is an online marketplace that deals in artistic products of all kinds developed by independent experts. It not only provides a personalized platform for sellers to display their handmade goods but also helps them in creating a unique website/online gallery for the same. Competitor 2 provides a wide range of templates that can be modified with a simple bit of training. It accepts sellers of authentic artistic items on their platform for displaying their products, which they then allow the customers to buy. Competitor 2 ideally makes money through commissions from sales, but it also has paid plans for sellers wishing to utilize more resources on their platform.
Competitor 3 is an online marketplace for artists that supports only US-based entrepreneurs. The seller needs to have US citizenship to sell on the platform, but the buyer ideally can be from anywhere in the world. Essentially, this C2C company focuses on promoting handmade products made by Americans for everyone! Competitor 3 provides a unique website for its customers. Its website builder is so easy to understand that even a novice can readily navigate through its technicalities.
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Management: The Company’s management team has xx years of business and marketing experience that allows them to market and serve customers in an improved and sophisticated manner than the competitors.
- Relationships: Having lived in the community for xx years, [Founder’s Name] knows all of the local community, media, and other influencers. Furthermore, she will be able to draw from her existing personal and professional relationships to grow her client base.
- Great service at an affordable price: The array of hand-crafted products offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer these products at a much more affordable price.