This competitive analysis grid shows how my company compares with my competitors in the categories of strengths, weaknesses, product quality, location, and promotions. The competition seems to all be going in a similar direction which is a focus on high-quality tasty food. One differentiation is that some competitors are more focused on customization rather than variety. The market seems to be at a halt because of COVID-19 closing many of the facilities these vending machines operate in. However, at least one competitor (Farmer’s Fridge) has used the pandemic as a way of getting their machines in hospitals to help provide healthcare workers with healthy food. I wouldn’t say that “no one” is doing what I want to do but I think one of the reasons why everyone isn’t doing it is because the value of this type of product has not been widely recognized yet. It seems to me that it is going to be difficult to come up with something that really sets me apart from the competition. Many of my competitors have already implemented many great innovations. I do think one thing I can do to pull customers away from my competition is developing a technology like Chowbotics that allows for customization but apply it to more than just salads. There would be different bases available such as pasta, rice, quinoa, greens, potatoes, cereal, or yogurt. Then from there, the topping choices would be a variety of fruits and vegetables. There would also be pre-set options that people could choose from if they liked them.
March 24, 2021 at 11:27 am
Great work! I think your categories capture your value proposition well and I agree that the value that your product offers has not been widely recognized, which can be an advantage.
March 28, 2021 at 5:00 pm
Thanks for the feedback!
March 25, 2021 at 4:43 pm
Love the way you layout all the competitive analysis of those in your market. I believe that your organization will still be able to reach your target customer market.
March 28, 2021 at 5:01 pm
Great! That’s what I’m hoping for too.
April 4, 2021 at 1:17 pm
This is really good!