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Marketing is among the core subjects in Management field. In the following Lecture Slides, the Lecturer has put emphasis on these fundamentals of marketing : Competitor Analysis, Competitor, Similar Products, Similar Customers, Targeting, First Step, Rivalry, Extent, Nature, Disadvantage Relative
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Strategic Group:
Strategic Dimensions:
**1. 2. Against whom are we competing?What are their objectives?
Taken together, the answers to these five questions can be used todevelop a detailed response profile for each competitive organization, and the probable implications for competitive behaviour fed into theplanning process.
Identify a full list of competitors including Direct, Indirect Competitors aswell as substitutes. Develop a full profile for your major competitors using the check list below:
1. Current Objectives: What are they trying to achieve? Are they satisfied with their achievements? 2. Current Strategies Identify their focuses - What target market(s) are they pursuing?What marketing mix do they use? 3. Competitor resources/capabilities^ -^ Consider 7 P’s if a high service element Marketing assets and capabilitiesProduction and operational capabilities Financial resourcesOrganization culture 4. Use the above information to help you predict their future strategies
Competitors Major Competitors Strategic Group Full list of your competitors A list of your major competitors A list group members of your strategic
Then select one or two members of your strategic group to do the competitor analysis based on:
Customer Analysis The study of consumer behaviour. It involves an examination of customer segmentation, motivations and unmet needs. Segmentation competitive strategies. means the identification of customer groups that can support different Segmentation approaches /sensitivity, and customer loyalty… include benefit sought, the price/quality dimension Consumer buying behaviour the buying behaviour of final consumers, individuals and households who buy goods and services for personal consumptions Consumer market all the individuals and households who buy or acquire goods and services for personal consumption.