14

Analyzing Competitor Data

Goals:

• Organize competitor data
• Analyze competitor data to identify potential market niche

Skills:

• Data graphing
• Non-quantitative data analysis

Overview:

Some students may feel overwhelmed and discouraged after becoming aware of how many competitors there are. At this point, students learn that many businesses succeed in a competitive market by identifying a market niche. Students are provided a method to identify a market niche by systematically organizing and analyzing their competitor survey data.