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Competition

Understanding your competition and what they’re good at will help you develop a marketing plan which will add more value than your rivals. You may have an information system in place which holds this, or indeed you may conduct a full competitor analysis in your audit – but it’s still worth adding at least your main competitor’s profile in here.

	Who are they?	Brand	Marketing Mix		Potential competitive advantage on us
Twice Trendy Tots	Twice Trendy Tots-Founded 5 years ago.	Twice Trendy Tots has similar resale model. Some of our shoppers also shop there.	Product- Resale clothing, toys and equipment. Price- Similar price points as ours. They pay less on most of the products they buy from public. Placement- Don’t spend much money or time promoting on social media. Mostly just do Broadcast Radio. Promotion- They do a few sales a year but nothing large in terms of scale. Seasonal promotions mostly.	They offer some other used goods such as hats and mittens. We don’t offer nor do we plan to. For sanitary purposes. They have a two year start on use in terms of marketplace so they have 6,000 Likes to our nearly 3,000 on Facebook. The owner also owns the building they are in so they have lower operating cost.

Major Retailers.	Major retailers- Gymboree, Carters, Target, Wal-Mart, Macys, etc..	Major retailers can offer big sales and incentives. They also drive our stores.	Product- New goods, varying price points and quality. Price- Generally cost more than our products. Unless there’s a large clearance sale. Placement- Spending on digital and social platforms, tv, radio. Large budgets. Promotion- Seasonal sales, black Friday, back to school. Rewards systems as well.	Larger budgets and brand recognition. Consumers still think of new retail as being better than used resale goods. Don’t have to educate the shopper as much.

3rd competitor