Cango Competetive Analysis Week 6
Competitive Analysis
A competitive advantage is gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justify higher prices. For an E-Commerce Organization such as CanGo the competition is extremely high and requires an organization to make precise business decisions as there is very little room for error. A lack of planning and pursuing poor business ventures is a recipe for disaster and in many cases organizational failure. An effective and comprehensive competitive analysis aids leaders in making critical decisions such as weighing the positives and negatives in regards entering new markets and measuring their opportunities of achieving success.
As a young and upcoming company CanGo has made great strides and experienced a large amount of success in their short four year history; but in essence they have reached a point in which innovation and creativity is required to expand into new markets. The largest hurdle for an E-Commerce book, music, and video game company such as CanGo to overcome is establishing themselves in a market that is dominated by the likes of Amazon.com, Barnes and Noble, and Electronic Arts (EA-Video Games).
Gaining an advantage in a highly competitive market is no easy task; and it’s not something an organization is going to just stumble upon. However; with some solid strategic planning the goal is definitely achievable. First and foremost; before you can accurately identify your competition, it's vital to first define and analyze your target market. What are you selling and to whom? For an E-Commerce organization such as CanGo who targets a few major markets: literature; both hard copy and electronic; music, custom MP3 players, movies in DVD and cassette format; and possibly their newest market venture; electronic online video gaming. The success of Amazon.com, Barnes and Noble, and Electronic Arts (EA-Games) has been accomplished through effective strategic
A competitive advantage is gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justify higher prices. For an E-Commerce Organization such as CanGo the competition is extremely high and requires an organization to make precise business decisions as there is very little room for error. A lack of planning and pursuing poor business ventures is a recipe for disaster and in many cases organizational failure. An effective and comprehensive competitive analysis aids leaders in making critical decisions such as weighing the positives and negatives in regards entering new markets and measuring their opportunities of achieving success.
As a young and upcoming company CanGo has made great strides and experienced a large amount of success in their short four year history; but in essence they have reached a point in which innovation and creativity is required to expand into new markets. The largest hurdle for an E-Commerce book, music, and video game company such as CanGo to overcome is establishing themselves in a market that is dominated by the likes of Amazon.com, Barnes and Noble, and Electronic Arts (EA-Video Games).
Gaining an advantage in a highly competitive market is no easy task; and it’s not something an organization is going to just stumble upon. However; with some solid strategic planning the goal is definitely achievable. First and foremost; before you can accurately identify your competition, it's vital to first define and analyze your target market. What are you selling and to whom? For an E-Commerce organization such as CanGo who targets a few major markets: literature; both hard copy and electronic; music, custom MP3 players, movies in DVD and cassette format; and possibly their newest market venture; electronic online video gaming. The success of Amazon.com, Barnes and Noble, and Electronic Arts (EA-Games) has been accomplished through effective strategic