Conduct a service area competitor analysis within your community
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Conduct a service area competitor analysis within your community. Keep it fairly small in scope (i.e. laser hair removal business, extended care facility for ventilator-dependent patients, etc.) so that it is manageable. Begin by introducing the macro issues (general and health care) and then use this outline as an initial guide:
*Specify the Service Category
*Delineate the Service Area.
general
economic
demographic
psychographic
health status
*Perform a Service Area Structure Analysis
threat of new entrants
intensity of substitutes
power of customers
power of suppliers
*Do a Competitor Analysis/Identify Service Category Critical Success Factors
competitor strengths and weaknesses
critical success factors
map competitors
like responses of competitors
*Identify and Map Strategic Groups
*Provide a Synthesis.
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