What products will your product compete against? Are there any similar products out there? Name and describe them. Most products will compete against other products for customers even if the products aren't exactly the same. What is the cost of the same or similar products? Be specific.

What products will your product compete against? Are there any similar products out there? Name and describe them. Most products will compete against other products for customers even if the products aren't exactly the same. What is the cost of the same or similar products? Be specific.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 7E

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Question

can anyone help me with my homework please

Economics Business Plan Worksheet #3/Your Competition
Description of your competition
What businesses will you compete against? Are there any similar
businesses out there? Name and describe them.
What products will your product compete against? Are there any similar
products out there? Name and describe them.
Most products will compete against other products for customers even if
the products aren't exactly the same. What is the cost of the same or
similar products? Be specific.

Is this competition a friendly competition or a cutthroat competition? How
do you know this?
Why is your product/business needed?
How will you make your product stand out so customers want to purchase
your product or visit your place of business over your competition?
Unique qualities of your business
What makes your business "special" or "unique?" What does your
product or place of business have that your competition doesn't have?

Expert Solution

Step 1

Since you have posted a question with multiple sub parts, we will solve first three sub parts for you. To get remaining sub part solved please repost the complete question and mention the sub-parts to be solved.

Competition is a scenario where different firms and industries are against each other in a market to sell their goods and services to customers, gain highest market share and make largest profits. The competition changes with time to time as new firms enter the market and existing firms leave the market. Competition is also very intense depending on the firms and their ability to grab the best opportunities.

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