I'm not sure how you can be entering an untapped market AND already have competition.

But let's say that it is possible. Similar to the eyeglasses industry where a few very large brands held most of the market share and a little upstart called Warby Parker came in and wreaked havoc.

Warby Parker took an existing model in a boring industry and identified a sticky point with consumers, they hated going to the store to try on frames. WP took that frustration (really just a mild inconvenience) and made a business out of it.

The same story with Zappos. And Starbucks. And Netflix.

The point is, find the sticky point that your competitors are overlooking. You may need to interview a lot of customers to find the articulable problem. Then solve that with an obsession to under promise and over deliver. If you can do both of these steps, you will negate competition's budget.

Sounds like an interesting project, let me know if you'd like more information or suggestions. Just book a call here on Clarity.

All the best,
-Shaun