Starting a Business 3: Customers and Competitors

Who is the course for?

This course is part of the Going to University collection which has been specifically designed for students at schools and colleges. They provide a taster of undergraduate study at the University of Leeds and help students to decide which subject to study at university.

Completion of the courses will also enhance students’ university applications.

The courses can also be used as a teachers’ classroom enrichment resource.

Courses in this collection are also great for people that want an introduction in the specific subjects discussed in each course.

What topics will you cover?

Define a market: identifying customers and competitors

The theory of understanding markets: the differences between a market and an industry

Analyse a market: the market size and its potential

How to determine a business’ target market

Competitor analysis

How to target specific customers

The business plan: customers and competitors

What will you achieve?

By the end of the course, you‘ll be able to…

Assess the importance of understanding customers and competitors when starting a business.

Discuss the difference between a market and an industry to help define the market and the product or service to offer to that market.

Evaluate the entrepreneur’s business challenge: Which markets should Ashleigh target for her product?

Explore the market for a business plan.

Discuss the size, scale and characteristics of your market.

Summarise your key competitors or those of another business by performing a competitor analysis.