V. Competitive Analysis
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Direct & Indirect Competitors
Tattoo Art
Tattoo Art is one of the popular tattoo shops in town and has been in business for xx years. Tattoo Art offers a wide array of services that one would expect from a tattoo shop.
Besides offering tattoo services, Tattoo Art also offers body piercing services. The belief that customer satisfaction is as important as their products and services has helped Tattoo Art garner a vast base of customers, which continues to grow by the day. Tattoo Art generally has low and medium-priced options for each type of tattoo design. However, they do not provide at least 50% of the high-end tattoo styles that [Company Name] plans to carry.
Body Ink
Body Ink provides its customers with thousands of tattoos and tattoo designs that they can browse from the comfort of their homes. Customers are able to browse through their vast database of tattoos and tattoo designs from one central location. Body Ink categorizes designs to make it easy to find what its customers are looking for. However, Body Ink’s search result layout is sensory overloaded as all the images load, and it feels like minimal organization.
Classic Tattoo
Classic Tattoo was established in [xx]. It has a solid reputation for treating its clients right. Classic Tattoo’s current location is in [location], which is filled with restaurants, pubs, salons, and barbershops. Classic Tattoo caters to a high-end clientele looking to be tattooed by innovative artists in a more serene setting than that of the normal bustling tattoo shop.
Competitive Advantage
[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 complete array of tattoo services offered by [Company Name] nearly equals the most premium positioned competitor, [Competitor Name]. However, [Company Name] will offer these services at a much more affordable price.
- Location: [Company Name]’s location is near the center of town, giving the company access to people going to and leaving the colleges, clubs, bars, and passersby shopping in the city.
