Identifying and Analyzing competitors

Identifying and Analyzing competitors

• 1.
  craftingtheBrandPositio do marketers identifyand analyse competitors?
• 2.
  companies that satisfythe same customer need
• 3.
  Identify competitors Determining categorymembership the products or sets of products with which a brand competes and which a brand competes and which function as close substitutes.
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  Major bottled-water competitor
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  Actual and potentialcompetitors A company is more likely to be hurt by emerging competitors or new technologies than by current competitors.
• 7.
  Identify competitors Classification ofindustries by marketer is based on Number of sellers; degree of product differentiation; presence or absence of entry; Mobility; exit barriers; cost structure; degree of vertical integration; and degree of globalization.
• 8.
  Value Innovation In completion, thereis a high growth possibilities through value innovation Red ocean thinking Blue ocean thinking
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  Value Innovation Red oceanthinking Seeking bloody, head to head battles with competitors based largely on incremental improvement in cost, quality or both.
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  Value Innovation Blue oceanthinking Creating products and series fro which there are no direct competitors. Look for unoccupied market positions that represent real innovation.
• 11.
  Value Innovation Blue oceanthinking Design creative business ventures to positively affect both a company’s cost structure and its value proposition to customers.
• 12.
  Analyze competitors gather informationabout each competitor’s real and perceived strength and weakness.
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  Analyze competitors Conducting competitiveSWOT analysis The overall evaluation of company’s strength, weakness, opportunities and threats.
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  Analyze competitors Customer’s ratingof competitors on some key success factors like Customer awareness, product quality, product availability, technical assistance, selling staff.
• 15.
  Analyze competitors As partof this competitive analysis for positioning, the firm should also ascertain the strategies and objectives of its primary competitors.
• 16.
  After identifying competitorsand its strategies must have some question in mind YOU What is each competitor seeking in the marketplace ? What drives each competitor’s behaviour ?
• 17.
  Recap 1.Identify competitors. 2. Actualand potential competitors. 3.Value innovation. 4. Analyze competitors.