{"appState":{"pageLoadApiCallsStatus":true},"articleState":{"article":{"headers":{"creationTime":"2016-03-26T21:47:36+00:00","modifiedTime":"2016-03-26T21:47:36+00:00","timestamp":"2022-09-14T18:10:30+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"slug":"business","categoryId":34225},{"name":"Strategic Planning","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34254"},"slug":"strategic-planning","categoryId":34254}],"title":"Writing Business Plans: How to Identify Customers and Competitors","strippedTitle":"writing business plans: how to identify customers and competitors","slug":"writing-business-plans-how-to-identify-customers-and-competitors","canonicalUrl":"","seo":{"metaDescription":"A critical part of a successful business plan is identifying your customers and the competition. 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Writing Business Plans: How to Identify Customers and Competitors

By: Paul Tiffany and Steven D. Peterson and

Updated: 03-26-2016

From The Book: Business Plans For Dummies

Business Plans For Dummies

Explore Book Buy On Amazon

A critical part of a successful business plan is identifying your customers and the competition. Solid business plans incorporate research on potential customers and competitors. Begin by asking the following questions, and then apply the tips on how to become a winning business:

Three Customer Questions

Who is buying?
What do they buy?
Why do they buy?

Three Competitor Questions

How big are they?
Which customers are they after?
What is their strategy?

Three Ways to Win

Cut costs to the bone
Offer something unique
Focus on one customer group

About This Article

This article is from the book:

Business Plans For Dummies ,

About the book authors:

Paul Tiffany, PhD, is a professor at the Haas School of Business, UC Berkeley.

Steven D. Peterson, PhD, is the founder and Managing Partner of Strategic Play.

Nada Wagner, MBA, is one of the principals of Next Wave Marketing and a professor at The Business School, Humber ITAL.

Paul Tiffany, PhD, is a professor at the Haas School of Business, UC Berkeley.

Steven D. Peterson, PhD, is the founder and Managing Partner of Strategic Play.

Nada Wagner, MBA, is one of the principals of Next Wave Marketing and a professor at The Business School, Humber ITAL.

This article can be found in the category:

Strategic Planning ,

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