can anyone help me with my homework please Economics Business Plan Worksheet #3/Your CompetitionDescription of your competitionWhat businesses will you compete against? Are there any similarbusinesses out there? Name and describe them.What products will your product compete against? Are there any similarproducts out there? Name and describe them.Most products will compete against other products for customers even ifthe products aren't exactly the same. What is the cost of the same orsimilar products? Be specific. Is this competition a friendly competition or a cutthroat competition? Howdo you know this?Why is your product/business needed?How will you make your product stand out so customers want to purchaseyour product or visit your place of business over your competition?Unique qualities of your businessWhat makes your business "special" or "unique?" What does yourproduct or place of business have that your competition doesn't have?

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ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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?

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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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