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COMPETITION ANALYSIS : BEYOND DESCRIPTION

COMPETITION ANALYSIS : BEYOND DESCRIPTION. MICHAEL W. PICZAK JANUARY 2004. HOW WE DO. AMONG THE WORST THINGS DONE IN A BUSINESS PLAN LONG ON DESCRIPTION LEAN ON ANALYSIS NO WRITE UP/DISCUSSION. METHODS. WEB VISITS FIELD VISITS/SHOPPING THE BAD GUYS NEWSPAPER ACCOUNTS

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COMPETITION ANALYSIS : BEYOND DESCRIPTION

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  1. COMPETITION ANALYSIS: BEYOND DESCRIPTION MICHAEL W. PICZAK JANUARY 2004

  2. HOW WE DO • AMONG THE WORST THINGS DONE IN A BUSINESS PLAN • LONG ON DESCRIPTION • LEAN ON ANALYSIS • NO WRITE UP/DISCUSSION

  3. METHODS • WEB VISITS • FIELD VISITS/SHOPPING THE BAD GUYS • NEWSPAPER ACCOUNTS • USING YOUR SURVEY TO COMPARE COMPETITION TO YOU • CHECK OUT CORPORATE IMAGE MATERIALS

  4. YOUR BASIC PREMISE • SURVIVAL OF THE JUNGLE APPLIES • THE COMPETITION WILL DO ANYTHING TO SUCCEED • THERE IS ACTION AND REACTION • NOONE REALLY CARES EXCEPT YOU AND YOUR MOTHER

  5. NICE GUY…

  6. CAPTURING DESCRIPTION • IN A TABLE • THEM • STRENGTHS • WEAKNESSES • YOU • NARRATIVE

  7. CAPTURING ANALYSIS • ANALYSIS IS A BREAKING DOWN PROCESS • INVOLVES COMPARISONS WITH WHAT IS RELATIVE TO WHAT COULD BE • LOOK FOR SIMILARITIES AND DIFFERENCES • THINK OF A FOOTBALL COACH ANALYZING A RECENT LOSS (QUARTER BY QUARTER, CATEGORY BY CATEGORY, MINUTE BY MINUTE, ETC.)

  8. WHAT IT LOOKS LIKE COMPETITION ANALYSIS The purpose of this analysis is to assess the strengths and weaknesses of competitors as defined by Your Fabulous Restaurant. Description of competitors will be followed by analysis looking for key success factors, competitive advantage and identification of distinctive competencies.

  9. THE CENTRAL EXHIBIT I

  10. THE CENTRAL EXHIBIT II

  11. THE CENTRAL EXHIBIT III

  12. THE CENTRAL EXHIBIT IV

  13. ENSURING THE READER SEES WHAT THEY ARE SUPPOSED TO SEE Narrative/Discussion The purpose of this section is to highlight key features of the various competitors’ operations with a view to identifying key success factors, possible sources of competitive analysis and distinctive competencies.

  14. FINDING COMPETITIVE ADVANTAGE • 5 SWEEPS THROUGH THE TABLE • LOOKING FOR COMMONALITIES ACROSS ALL COMPETITORS IN STRENGTHS = KSFs or Winning Formula or Conventional Wisdom of How IT is done • LOOKING FOR DIFFERENCES BETWEEN COMPETITORS’ STRENGTHS AND YOUR STRENGTHS = CA1 • LOOKING FOR DIFFERENCES BETWEEN COMPETITORS’ WEAKNESSES AND YOUR WEAKNESSES = CA2 • LOOKING FOR DIFFERENCES BETWEEN COMPETITORS’ WEAKNESSES AND YOUR STRENGTHS = CA3 • FINDING SOMETHING THAT YOU DO THAT NOONE ELSE DOES = DISTINCTIVE COMPETENCE

  15. WHOSE SIGNATURE IS ALL OVER THIS?

  16. NECESSARY COMPONENTS OF A BEER COMMERCIAL…

  17. KEY SUCCESS FACTORS • ACCEPTED PRACTICES WITHIN THE INDUSTRY THAT REPRESENT MINIMUM THINGS THAT EVERYONE DOES • STRAYING FROM THESE IS DONE AT YOUR PERIL OR AS PART OF YOUR GRAND PLAN TO BE DIFFERENT • E.G. • NOT PROVIDING PARKING • NOT GIVING T SHIRTS/MOMENTO TO RUNNING RACE PARTICIPANTS • NOT OFFERING THE USE OF CREDIT CARDS • NO MEALS ON AIRLINES • NO TECHNICAL SUPPORT FOR COMPUTER PURCHASES • NO ASSIGNED SEATING ON PLANES

  18. COMPETITIVE ADVANTAGES • PRICE • SERVICE • QUALITY • VARIETY • FLEXIBILITY • CUSTOMIZATION • SPEED • BREADTH OF PRODUCT LINE

  19. DISTINCTIVE COMPETENCIES • THINGS THAT YOU DO BETTER THAN ANYONE • THINGS THAT YOU COULD BECOME KNOWN FOR IN THE INDUSTRY • E.G. • SIGNATURE MEAL (HONEY’S WINGS) • SIGNATURE HOLE ON A GOLF COURSE (PAR 3 7TH AT PEBBLE BEACH) • ON TIME DEPARTURES OF PLANES (SOUTHWEST AIRLINES) • SUPERIOR CUSTOMER SERVICE (4 SEASONS HOTEL) • 24/7 SERVICE (IBM) • YOU COME TO THEM WHEN THEY NEED YOU THE MOST ( ) • YOU NEVER LET THEM DOWN ( ) • ANIMATION (PIXAR STUDIOS) • MOVIE SOUND (THX LABS)

  20. ENTIRE SECTION IS • 3-4 PAGES MAXIMUM DOUBLE SPACED

  21. COMPETITION ANALYSIS: BEYOND DESCRIPTION MICHAEL W. PICZAK JULY 2006

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