WEEK 5

STEP 1 : COMPETITION LISTING TEMPLATE

Competitors
Direct competitors Indirect competitors

- Consider using bespoke - Businesses that serve the

, reusable bags to same market segment
promote your brand if but provide somewhat
you’re searching for a different goods and
technique to get people services are in order to
to notice your firm and meet their needs.
set it apart from the
competition.

STEP 2: COMPETITION ANALYSIS TEMPLATE

C1 direct C2 direct C3 direct C5 indirect Your venture
C4

indirect
all
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forms
of t for the t of advertisem ng of a perfect for this
uct business
advertis school and school,market ents for market target market
bene ing market schools ,school,or niche. This is
fits and gift particularly true

markets of larger totes

everywhere that can be used

. to transport

heavy objects

like books,

laptops, and

other heavy
 items

UVP Alternatives
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-groceries screen are more
reliabl l marketing best channels
environmenta
- papers work e printing is lly friendly
using tote are social
include
- found the most
bags is canvas tote media,
p ation popular bags and
much more cotton tote
Google,
er - option,
convenient, bags. websites,
s expos we're also
cost- blogs, radio,
o e and seeing a
effective shift
billboards, etc.
n make

al design
, and toward The idea is

visible long-lasting digital that the

cl -public printing promotion of

ot in handbags is
hi involvem segmented
n ent
into the sites
g
where your
customers
will look for
information to

ma
ke
the

pur
ch
ase

pro
ces
s
Price One month
-2pc 360 profit Fre One Customer can
have
unisexMEC within one accumulated e customer request the
day of selling 3,480 sales of
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the product
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totebag(brown)
 Online
Ma reviews are Provide Up to 84% Businesses allow your A Tote
crucial for
your insightful of use company to bag is
rke business's
reputation, for advice from consumers marketing rank higher
t boosting
ideal for
sales, and for customers noted that techniques in search
this target
rev raising your
who have tried reviews to stay engine
website's
search engine market
ie the service or were competitiv results the
ranks.
segment since
w product.y important e in the more
it can hold a
in their market. frequently

purchasing that it is
lot more than

decisions referenced a traditional

purse. This is
especially true
for larger tote
bags which
can be used
for carrying
books,
laptops, and
other heavy
items

STEP 3 : FEATURE RANKING

CREATE
- The ability to outsell competitors'
goods and services to consumers is
known as having a competitive
edge.
ENHANCE
-The optimal value proposition is
direct and appeals to the main
factors that influence a consumers'
intention.
 REDUCE
- A value proposition is a simple
statement that clearly
communicates the product or
service benefit you promise to
deliver to your customers. A
value proposition is a brief
declaration that expresses the
advantage of your product or
service that you guarantee to
bring to your target market.
ELIMINATE
- The term "redundant features"
refers to features that are linked
with other features but are
irrelevant in the sense that they do
not enhance the ability of a set of
features to discriminate.

STEP 4: WHY WOULD THE CUSTOMER SWITCH TO MY PRODUCT

REASON 1:
You can define and leverage your competitive advantage
The first step , as mentioned , marketing success ,is identifying your competitive edge.
You need to know how your business is providing solutions to
the marketplace. It might be how your service or product helps customers. It will also
be how your service or product is different from the similar services and products your
direct competitor offers.

REASON 2:
Your reputation is solid.
Businesses with a good reputation are those that produce honest, high-quality work. A
strong reputation in the industry will increase word-of-mouth recommendations, both
online and offline. When asked, a satisfied customer is likely to recommend you to
their friends, family, and even coworkers if you
provide excellent service. People will often pick a business over one without that
personal connection if someone they trust has recommended it.

REASON 3: A tote bag's main function is to act as a convenient carryall, especially on

days when you're busy doing errands or shopping. A canvas tote bag, on the other hand,
is any tote fashioned from a robust fabric made of cotton or linen.