You’re competing with more businesses than you probably realise. There’s your obvious direct competition, then there’s another type of often overlooked rival: indirect competition. Here is an example of direct and indirect competitors from the beverage market. Direct competitors like Coca-Cola and PepsiCo compete directly with each other by producing similar products and targeting similar consumers. However, they also face competition from indirect competitors such as energy drinks, juices, and bottled water. These indirect competitors also cater to the same target market with different products – but they all aim to quench thirst and provide refreshment to consumers. Understanding your own indirect competitors – those who may not have the same type of business as you, but who compete for the attention of the same type of consumer – is a key part of competitive analysis. At Growth Partners we’ll use competitive market analysis to identify those indirect competitors, and offer tangible ways to mitigate their impact on your business.