Assignment Instructions
Competition Analysis
Please note the following:
It will take you approximately 3 hours to complete this assignment.
It will be wise to divide your time as:
o 30 minutes to work on interviewing each of the 4 customers, that is, a total of 2 hours.
o 30 minutes to research online on your competitors.
o 30 minutes to discuss with your teammates and finalize on the competitors, product
benefits, and what customers perceive about those benefits.
Ask your facilitator how and when to submit your assignment.
Basic Course in Entrepreneurship
Learning Objectives:
Objectives of this assignment are to:
Understand who your competitors are.
Identify product benefits that are most important to the customers.
Understand how customers perceive the benefits of what your competitors are offering so that
you can further refine your value proposition.
What do you need to do?
Identify your competition and important product benefits.
Conduct at least 4 customer interviews to validate important product benefits and capture how
competition is doing against those benefits.
How will you go about this assignment?
A. Follow the instructions below to fill in this section.
You have identified your Unique Value Proposition in the previous lesson. Now, you will identify and
analyze your competitors. By doing so, you will understand if your value proposition is sufficiently
different from what your competitors are offering. This will help you to further refine your Unique Value
Proposition and make sure your products and services are different from theirs.
Step 1: Identify 3 to 6 existing players who are likely to be your main competition. Be careful to correctly
identify those competitors who will be fighting for the same niche. In case you are able to identify many
more competitors, go for the ones who sell more in your niche.
Step 2: Identify important product benefits (pain relievers or gain creators). Shortlist 4 to 10 that are most
important to customers. To do this, simply merge the lists of gain creators and pain relievers you had
worked on and prioritize the joint list. List them below:
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Assignment Instructions
Competition Analysis
Product Benefits:
1. Comfortness-Custormers wants a barbershop that present a comfortable feels.
2. Time-Reserve time and no time queue.
3. Reservation-Just download an App.(Express Barber) and register,so you can get a reservation
4.Services-The barber shop can service you by what the expectation of the customer desire.
Basic Course in Entrepreneurship
4. Equipments-We assure that the equipments(Scissors,Brush,Towel,Razor etc.) are sanitize and new before
we proceed to the next customer.
5. Cheaper rates for regular/junior stylists.
B. Customer Interviews
It is recommended you interview at least 4 customers. You need to interview customers to:
1. Validate the product benefits.
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Assignment Instructions
Competition Analysis
2. Capture how the competitors fare against those product benefits i.e. the perceived performance
of the competitors for each of the benefits.
To do this, show them your list of product benefits and add or remove them based on what the
customers say. Ask them how the competitors fare against those product benefits. Based on what the
customers say as well as your research, you need to tabulate your findings.
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Assignment Instructions
Competition Analysis
Competitors Product Benefits
Price: Logo Men’s Volume of Location
Cut Hair Color Customers (from Quezon
and Price City)
Rinse
Felipe and Sons 360 1,300 to Frequently Malls,Around
1,750 BGC and
Mandaluyong
City
Basic Course in Entrepreneurship
Davids Salon 250 to Php 1,700 Few Malls,Commo
300 nwealth,Marik
ina.
Bruno’s 280 to 380 1,200 Frequently BGC and
barbers Uptown
Azta urban 250 800 Few Around
salon Diliman,Maka
ti City and
Cainta
Bench barbers 350 1,800 Few Taguig and
Makati
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Assignment Instructions
Competition Analysis
Customer 1:
Competitors Product Benefits
Price:Cut and Logo Men’s Volume of Location
Rinse Hair Color Customers (from Quezon City)
Price
Felipe and Sons Its too expensive N/A Sometimes I It’s too far and its hard
and I can rinse my N/A left and find to find a parking place.
hair after by some
showering at barbershop
home.
Davids Salon I prefer to the It look like for N/A N/A The location for me is
simple barbershop the girls okay but, it looks like
and the price is too only,And I see for women and
costly. it is like a salon girls.And some of the
for the woman crew are Bisexual man.
only but not
prefer to try.
Bruno’s Looks expensive N/A N/A N/A
barbers and the price is not N/A
satisfied of what my
expectation.
Azta urban Its too high for just N/A N/A N/A Too far to go.
salon a simple haircut.
Bench barbers The price is too N/A N/A N/A I don’t want people see
costly. me getting a haircut.If i
try to the malls
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Assignment Instructions
Competition Analysis
Customer 2:
Competitors Product Benefits
Price:Cut and Logo Men’s Volume of Location
Rinse Hair Color Customers (from Quezon City)
Price
Felipe and Sons Cant afford and It’s like a old It’s too N/A N/A
for my budget is school expensive
too costly. barbershop. and if im
going to dye
my hair,I
choose to
DIY hair dye
Davids Salon Too costly to go I prefer only N/A N/A N/A
there. men barbershop
Bruno’s barbers Too costly and not Looks N/A N/A I never try to go because
satisfied my expensive. the parking fee is
expectation. become expensive pass
hour.
Azta urban I don’t know the N/A N/A N/A N/A
salon barbershop and
simple barbershop
is just good for me
Bench barbers My friend It’s too N/A Last time, i I don’t prefer
recommend me mainstream go with my malls,Gettign a haircut
that barbershop but just to see by going on the malls
I prefer to the the and I don’t want too
simple and barbershop. many people around me
Cheap.but good The and seeing me getting a
service customer is haircut.
just us.
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Assignment Instructions
Competition Analysis
Customer 3:
Competitors Product Benefits
Price:Cut and Logo Men’s Volume of Location
Rinse Hair Color Customers (from Quezon City)
Price
Felipe and Sons I prefer to cut my Not a fan of Sometime I Too far
hair at home N/A hair dye get haircut if
because of time im the first
schedule. customer or
Basic Course in Entrepreneurship
one of the
crew are free
to cut my
hair
Davids Salon I prefer to the N/A N/A N/A Too far
simple barbershop
and the price is too
costly.
Bruno’s I hope they get what N/A N/A Too far
barbers I want to satisfy my N/A
expectation and if I
feel comfortable
Azta urban Its too high for just N/A N/A N/A Too far
salon a simple haircut.
Bench barbers I rather choose to N/A N/A N/A The location is okay
go to the cheap but,the time to travel and
barber shop the location(mall) is to
mainstream.
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Assignment Instructions
Competition Analysis
Customer 4:
Competitors Product Benefits
Price:Cut and Logo Men’s Volume of Location
Rinse Hair Color Customers (from Quezon City)
Price
Felipe and Sons too expensive just Too Sometime I Too far
for the haircut.I N/A expensive for get haircut if
prefer to cheap the full hair im the first
barber shop color customer or
one of the
crew are free
to cut my
hair
Davids Salon N/A N/A Too N/A Its too far for me
expensive
and some
salon
recommend
a low price
than this
Bruno’s The price is too costly N/A Too far
barbers expensive N/A
Azta urban I go in this N/A The price is The barber It’s okay to me,And it is
salon barbershop every just good shop is good near at my school and at
month,But I realize for me,But for me my house. so I can get a
that the price is to I rather because haircut everytime I
expensive if I choose to some student want.
always go on this dye my hair and people
barbershop at home. don’t know
the place.
Bench barbers The price value for N/A N/A N/A The location is okay
a simple haircut is but,the time to travel and
too expensive the location(mall) is to
mainstream.
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Assignment Instructions
Competition Analysis
C.Report
Write your observations under the following headings:
Competitors identified
Product benefits identified and validated by customers
Customer perception of these benefits offered by competitors
Make a table similar to the one on energy drinks to summarize your findings.
Competitors Product Benefits
Price:Cut and Logo Men’s Volume of Location
Rinse Hair Color Customers (from Quezon City)
Price
Felipe and Sons In the statement Looks cheap but The hair Here we’re It’s too far for the simple
of the cant get the price color is too not discussing customer and it is too
customer,we of what the expensive the numbers hard to commute
conclude that the customer wants. and some of of customer.it because of traffic
price is to men are not is about
expensive coloring their Queue
hair time.Some of
them they
always leave
because of
time waiting.
Davids Salon The price is not By the Other men This salon is It is just good to go,but
good to service men commercial and choose to free to get a the traffic intervals time
and expensive to tv ads,It looks dye their free haircut between morning and
recommend to like a Beauty hair by because it is afternoon is not good to
others parlor.Most of themselves frequently try.
men they go to customer is
the barber shop women,but
that some men are
recommended not prefer to
by their friends go this salon.
and co-workers.
Bruno’s Too expensive and Not a fan of The The location is known as
barbers not good for the The logo and dye their reservation is expensive places.
people who use to the Structure of Hair always fully
“budget” their the shop looks book because
money or salary expensive and of the
other men it customer
looks cheap volume.And
thinking of it the quality of
maybe the the servicing
services are not of customer
good.
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Assignment Instructions
Competition Analysis
will not
satisfy the
expectation of
the customer
in the short of
time.
Azta urban The price is costly The salon is for Not a fan of The salon is The place where this
salon for the haircut and the millennials dye their not salon is stand is not
Cheap barber shop and many men Hair unfamiliar familiar to many
is good for the don’t recognize and the men,even the name and
simple haircut or unfamiliar volume are logo are not
because of the few. recognizable.
logo.
Bench barbers The price is too Some of men and Not a fan of The This salon is known
costly that no one millenials dye their customer places where in the malls
try the salon even confuse of this Hair can use to and commercial
the middle class. salon. There’s a this building.And if you have
Fix Salon by salon,this a car and have a plenty of
bench and Bench salon are time to go then it is just
Barbers.This two always in good for you.
barber shop has malls and
difference Commercial
services. Buildings.
D.Submission
You should fill it up and submit it along with your report. You can submit your assignment report, as
instructed by your facilitator, in any of the following formats: handwritten on A4 sheet/typed and
printed/soft copy. You can also download this handout from LearnWise.
How will you be evaluated?
You will receive a score out of 100 in this assignment. Please contact your facilitator for any further
questions.
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