How do you anticipate competitors might react when you start the business?

When analysing competitors it is important to identify their mix of objectives and the importance of each. For example, some competitors may be focused purely on profits while others may be focused on customer service. Understanding the relative importance the competitor places on profitability, growth, market share, technology etc can assist you in understanding how your competitors may react in different competitive situations.

This information was provided to HBC by I&I NSW