V. Competitive Analysis

Competitor 1
Competitor 1, founded in [xx], is an American software product developer and distributor for inbound marketing, sales, and customer service. The platform is well known for offering services at a very low price. This extremely adaptable solution doesn't require users to change their workflows after installation is complete; it may be utilized right away. It is ideal for companies of all sizes that want to experiment with CRMs. The system lacks the complexity of most solutions and provides all the essential fundamental capabilities.

Competitor 2
Competitor 2 is an American cloud-based software company headquartered in [insert location]. The company was founded in [xx] by [Founder1], together with [Founder2], as a software as a service (SaaS) company. Competitor 2’s customer relationship management (CRM) service comprises several broad categories: commerce cloud, sales cloud, service cloud, data cloud (including jigsaw), marketing cloud, community cloud (including chatter), analytics cloud, app cloud, and IoT, with over 200,000 customers.

Competitor 3
Competitor 3 is an enterprise-class small business focused on lead capture, lead tracking, and lead management solution that are both cloud-based and mobile-driven. Instead of developing a sophisticated platform with all the features of an endlessly capable modern CRM system, it also focuses on simplicity, reliability, and affordability. It's a comprehensive solution for small businesses that is designed with SMEs in mind; regardless of prior CRM expertise, owners will benefit from being able to have everything operational in a matter of hours. 

Strengths

• Easily accessible and customizable software.
• Competitive Pricing.
• AI-enabled predictive forecasting .
• Founder’s extensive experience.

Weakness

• Being new to the industry could lead to a significant lag in establishing goodwill and trust.
• A high-speed internet connection required.

Opportunities

• The growing implementation of advanced technologies such as artificial intelligence, the internet of things, connected devices, and big data are expected to fuel the software's demand.
• The global CRM market size was valued at $41.93 billion in 2019 and is projected to reach $96.39 billion by 2027, growing at a CAGR of 11.1% from 2020 to 2027.

Threats

• Lack of specific conventional regulations
• Competitors could look to copy the company’s business model