The benefit of utilizing the competitor matrix

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Reference no: EM131434904

The benefit of utilizing the competitor matrix is that you can learn more about your competitors and you can see how your business ranks with the competitors. You will be able to see where you may be lacking in some areas compared to the competition and you can make changes to your business so it will be able to last. The company that I choose to analyze is Joann Fabrics. I think customers prefer this company over the competition is because of the coupons. When you go to Joann’s you can use as many coupons as you want and you are able to use the competitor’s coupons at that store as well. Joann Fabrics and Michael’s Craft Store both sell the same products, they both offer craft classes and their prices are the same on a lot of items. The only thing that makes Joann’s stand out from what I can see is the way that you are able to use the coupons which makes their prices much lower than Michael’s. At Michael’s you are only able to use one coupon per day. Although they do take competitors coupons but you are still only able to use one coupon per day. The coupons are the only reason why I shop at Joann’s more than Michael’s because I am able to get what I need for my company at lower prices because of the coupons and I can get whatever I need in that one purchase instead of multiple purchases.

Reference no: EM131434904

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