V. Competitive Analysis
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Direct & Indirect Competitors
Flora’s Jewel Shop
Flora’s Jewel Shop is one of the popular jewelry shops in town and has been in business for xx years. Flora’s Jewel Shop designs jewelry with a focus on a professional and sociable woman. The company offers a wide range of items including earrings, necklaces, bracelets and watches.
The Jewelry Nest
The Jewelry Nest provides its customers with a variety of traditional and contemporary jewelry designs. The Jewelry Nest provides an eclectic range of styles and price points. The shop is known for its unique pieces that cannot be found anywhere else.
Diamonds and Pearls
Diamonds and Pearls was established in [xx]. It has a solid reputation for providing its customer’s superior craftsmanship, exclusive designs and superios product quality. Diamonds and Pearls’s current location is in [location], which is in an area of mostly high-net-worth individuals. Diamonds and Pearls caters to a high-end clientele looking to buy jewelry designed by professional designers in a more serene setting than that of the normal bustling jewelry shop.
[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 leaders, newspapers, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
- Great service at an affordable price: The wide range of jewelry products and services offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer the jewelry at a much more affordable price.
- Location: [Company Name]’s location is near the center of town, giving the company access to couples, teens, and adults in the city.