Competitor Analysis - Marketing - Lecture Slides, Slides of Marketing Management

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What/Why Competitor Analysis?

Competitor Analysis is a competitor is a firm

operating in the same market, offering similar products

and targeting similar customers.

 Competitor Analysis is the first step the firm takes to

be able to predict the extent and nature of its rivalry with

each competitor.

 Strategic Group:

 A set of firms emphasising similar strategic dimension to use similar strategy(ies)

 Organizations in a strategic group occupy similar positions in themarket, offer similar goods to similar customers and may also

make similar choices about production technology and other organizational features.

 Strategic Dimensions:

The extent of policies , distribution channels technological leadership and customer service , product quality are, pricing

example oftreat similarly. strategic dimensions that firms in a strategic group may

Competitor Analysis (Continue…)

Competitor Analysis (Continue…)

5 Questions that we need to consider when doing the Competitor Analysis:

**1. 2. Against whom are we competing?What are their objectives?

3. 4.** (^) **What strengths and weaknesses do they possess?What strategies are they pursuing and how successful are they?
4. How are they likely to behave and, in particular, how are they likely to reactto offensive moves?**

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

Competitor Analysis (Continue…)

Competitors Major Competitors Strategic Group Full list of your competitors A list of your major competitors A list group members of your strategic

Competitor Analysis (Continue…)

Then select one or two members of your strategic group to do the competitor analysis based on:

Customer Analysis

(The study of consumer behaviour)

What/Why Customer Analysis?

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.