Question

In two to three sentences, explain how you will address

each area of competition to help make your business
successful against this competitor.
To begin your plan, you will need to know about your
competition and decide how you will attempt to compete.
Your competitor is called Create Your Own Yogurt, and it
uses artificial flavors that customers use to create their
own yogurt
In the lesson, you learned about three techniques
businesses can use to compete with one another.

Answer 1

sample response: First, I will focus on lowering prices. I will do this by making sure my costs to run the business are low, and I will start by running the shop myself. I will create a better product by using healthier, better ingredients to attract more customers. Finally, I will be innovative by offering ingredients that aren't sold anywhere else.

Step-by-step explanation:

Answer 2

Explanation:

1. Since my competitor– 'Create your own yogurt' uses artificial flavors, I need to determine what those flavors are, and why they may be better than mine.

2. After noting the recipe used by my competitors, I will improve my own recipe using natural flavors which are medically advisable, while improving on branding and marketing efforts.

3. Price is usually going to be my greatest advantage over my competitor, followed by quality, and so I will consider a reduction in my yogurt prices, while striving at maintaining superior quality.