Who is your competition? Is your competitor in the same industry? Or, is your competitor in a new industry ready to change the game? There are four types of markets; perfect, monopolistic, oligopoly, and monopoly. There are three types of competition; direct, indirect, and replacement. It is important to be creative when identifying competition. What are the characteristics of your competitors? What is your assessment of your competitors? What are the capabilities of your competitors? More importantly, how do you respond to competitors? Remember your competitors are looking for all opportunities to win the game.