QQBP - Competition Analysis

Most innovative solutions born never reached the needy customers successfully due to ignorance on how to overcome various forms of competition. A decade ago competition was found only between organizations, they had to mostly compete with quality and quantity but the route to customer was always unique, it was always unanimously through distributors and retailers. But today’s online world created competition even on the route to customers through online retails. This revolutionary change brings lot of changes in the traditional way of selling.  To add to it, innovation and technology is itself becoming competition to any business. For example Smart phones, Tablets, Social Media, Cloud were all trend setting innovations but if you closely watch they are becoming a tool for competition, making them a compelling business strategy to adapt to stay relevant in business. No businesses ever thought online or mobile or cloud will become a separate industry but the reality is they left no choice but to adapt them for survival.

So the competition here can be divided into two

•  Business to business competition
• Competition created by adapting to innovation

Business to business competition:

Mostly business that offer similar products or service become competition to each other. This competition can be easily overcome by creating a "unique value proposition" to customers. Unique Value Proposition can be in any of the following Quality, Quantity, Benefits and Price.

Quality: Most Technology companies use quality as a value proposition to customers. Use of Quality materials, expertise skills and advanced  futuristic technology in production.

Example: Apple v/s Samsung

Quantity: Retail companies use quantity as a value proposition to customers. Two products at the cost of one (One + One offer)

For Example: Target v/s Walmart

Benefits: Mobile companies use benefits as a value proposition to customers.  Google store (or) Microsoft Market place for applications

For Example:Microsoft play store v/s Google play store

Price:  Most online companies use Price as a value proposition to customers.

For Example: Online retails v/s Retails

It is very critical for any company to understand the competition. Scoring and realizing your own organization with competition will prepare yourself to overcome competition.

Sales person in every organization should be made aware the above. One who has the knowledge on the QQBP analysis win over the competition easily

This exercise will not only help you to realize your competition but also gives the luxury to choose your competition

	Customer Reviews and Market
Company Name	Quality (/5)	Quantity	Benefits (/5)	Price
Apple i-phone	5	1	4	100$
Competitor-1 Samsung	4	1	4	70$
Competitor-2 Micromax	3	1	4	30$