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Step 3: Competitors and suppliers
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Researching your competitors will give you key information about their businesses, including their location, what prices they charge, the quality of their products and services, how they find and engage with customers and how they advertise.
Finding the right suppliers is an important part of providing your customers with quality products and services at competitive prices.
Your competitors and suppliers can operate either:
- 'brick and mortar' businesses (i.e. selling to customers through a physical shop)
- online businesses (i.e. selling to customers through an online shop).
Researching brick and mortar businesses
Search the Yellow Pages online
- Go to the Yellow Pages.
- Enter a keyword into the 'Business type or name' search box. (Use the drop-down list to refine your search.)
- Enter a location into the 'Street, Suburb or Postcode' search box. (Use the drop-down list to refine your search.)
- Click the search button. A customised list of businesses will display (with phone numbers, emails, addresses and websites).
Researching online businesses
Use search engines and other online tools
- To find out which businesses are selling online, type the name of your products/services or business type into a search engine (e.g. Google).
- Search social media to find out how these business engage with their customers.
- Check online customer reviews to see what people are saying about particular businesses.
To go to the next step of your online market research, click the 'Next' button on the bottom right of this page.
- Use a business planning template to record the results of your market research.
- Learn more about different research resources for business and industry.
- View the useful range of data from the Australian Bureau of Statistics to help understand your industry.
- Find out more about your competitive advantage.