The Way of Living
The Competitive Market
Every product and service has a competitor whether they are direct or indirect. Once one decides to get into the market then they have to realize that they are not the only one out there trying to win success. Nutella is a product that has various competitors, but one major competitor they face is another popular breakfast spread, Kraft’s Peanut Butter. One way they can precisely measure their competition with Kraft’s Peanut Butter is through a competitive analysis. A competitive analysis allows a company to know if their product has a competitive advantage over its competitors, furthermore, it gives them an overview of areas they are strong in and where they need improvement. If they can analyze their weakness they can work to improve it which could generate greater sales or margins and/or retain more customers than its competition. Competitive Advantages | Nutella | Skippy Peanut Butter | Sustainable | | | Unique Selling Proposition | Yes. Nutella does hold the title of being a product that is both delicious and healthy, however, that is not the only reason many individuals love it, it’s mainly due to their popular ingredient; chocolate. Nutella has made it possible so that’s people are able to incorporate chocolate into their breakfast, instead of having it as a snack once in a while. Nutella is unique in that aspect. | No. Skippy peanut butter does hold the title of being a product that is both delicious and healthy, however, does not appeal to children the way nutella does as nutella includes chocolate into their product. | Niche | No. Nutella targets children, however, they do not provide them with something that isn’t already available; a breakfast spread. | No. Skippy peanut butter does not provide children with something that isn’t already available; something to enjoy as a snack. | Cost Advantage | No. Nutella costs more to produce as it uses high quality products in order to get their desired taste, also, many of
Every product and service has a competitor whether they are direct or indirect. Once one decides to get into the market then they have to realize that they are not the only one out there trying to win success. Nutella is a product that has various competitors, but one major competitor they face is another popular breakfast spread, Kraft’s Peanut Butter. One way they can precisely measure their competition with Kraft’s Peanut Butter is through a competitive analysis. A competitive analysis allows a company to know if their product has a competitive advantage over its competitors, furthermore, it gives them an overview of areas they are strong in and where they need improvement. If they can analyze their weakness they can work to improve it which could generate greater sales or margins and/or retain more customers than its competition. Competitive Advantages | Nutella | Skippy Peanut Butter | Sustainable | | | Unique Selling Proposition | Yes. Nutella does hold the title of being a product that is both delicious and healthy, however, that is not the only reason many individuals love it, it’s mainly due to their popular ingredient; chocolate. Nutella has made it possible so that’s people are able to incorporate chocolate into their breakfast, instead of having it as a snack once in a while. Nutella is unique in that aspect. | No. Skippy peanut butter does hold the title of being a product that is both delicious and healthy, however, does not appeal to children the way nutella does as nutella includes chocolate into their product. | Niche | No. Nutella targets children, however, they do not provide them with something that isn’t already available; a breakfast spread. | No. Skippy peanut butter does not provide children with something that isn’t already available; something to enjoy as a snack. | Cost Advantage | No. Nutella costs more to produce as it uses high quality products in order to get their desired taste, also, many of
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