Identify the Competitors: Competition can be found in the form of other companies operating in the same industry as the focal company. To determine the industry, industry classification systems such as the North American Industry Classification System (NACIS) exist to provide a standardized method of defining an industry. However, industry classification systems may not provide a sufficiently thorough industry definition for certain companies. This can occur because a firm may operate across multiple industries or it may serve a niche market that differs from the traditional industry definition. (source: CFI)
Some Questions to Investigate:
Identifying Competitors:
Research Industry and Competiton:
To find First Research Industry Profile, conduct Keyword searches at the public website of First Research Industry Profile, and retrieve the NAICS industry code of the report. Navigate Mergent Archive->D&B Manuals--> First Research, and copy/paste the NAICS code from the website. Scroll to the right and see the PDF document for downloading. The Industry Report follows the following structure:
Reference Solutions (formerly ReferenceUSA): Search millions of private and public businesses for information on the competition, business demographics, and target markets. Reference Solutions step-by-step guides, webinars, and training materials are available to help you better understand how to use the search features and produce a strategy at home, on the go, or at the Library.
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Reference Solutions Competitor Heat Map Example for Air Conditioning Contractors & Systems in Chester County: