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Chapter 4: Competitor Analysis

Chapter 4: Competitor Analysis. “What are they going to do?”. http://studygalaxy.com/. Competitor Analysis System. 1. Gather secondary data 2. Gather primary data 3. Answer key questions What are their product/service features? What are their objectives / strategy?

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Chapter 4: Competitor Analysis

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  1. Chapter 4:Competitor Analysis “What are they going to do?” Advanced Marketing BiMBA 2006 http://studygalaxy.com/

  2. Competitor Analysis System • 1. Gather secondary data • 2. Gather primary data • 3. Answer key questions • What are their product/service features? • What are their objectives / strategy? • 4. Determine who has competitive edge • 5. Figure what they are going to do Advanced Marketing BiMBA 2006

  3. Secondary data • Internal sources • Internet • Sales literature • Local newspapers • Business press • Consultants Advanced Marketing BiMBA 2006

  4. Primary data • Sales people • Employees • “mystery shoppers” • Suppliers • Accountants, lawyers, printers, etc. • Consultants • Investment bankers • Help-wanted ads • Trade shows • Reverse engineering / benchmarking Advanced Marketing BiMBA 2006

  5. Comparing Product Features Length Meals Transportation Price Tour A 7 days all bus $3,450 Tour B 10 days breakfast bus & train $2,900 Tour C 13 days breakfast air and bus $5,500 & lunch Advanced Marketing BiMBA 2006

  6. Comparative size & growth (BCG) Growth of industry Company B Company C Company D Company A Company E Comparative market share = sales Advanced Marketing BiMBA 2006

  7. Determining Objectives Objective Implication Company A* Harvest increase price, decrease promos Company B Hold maintain price and promos Company C** Growth cut price, increase promos increase distribution *Company appears to be short of cash **Short-term loss does not appear to be a concern Advanced Marketing BiMBA 2006

  8. Determining Core Strategy Target Market Core Strategy Company A teenagers high status & high price Company B young adults comfort, fit, service & high price Company C teenagers high style & low price Advanced Marketing BiMBA 2006

  9. Determining “Value Chain” Inbound Operations Outbound Marketing Service Company A + 0 + + + Company B 0 + 0 0 + Company C + 0 + - - Advanced Marketing BiMBA 2006

  10. Determining the “Marketing Mix” Product Price Promotion Distribution Company A hi quality hi price extensive specialty TV, net stores Company B hi quality medium limited specialty hi service price TV, hi net stores Company C lo quality lo price heavy net mass lo service promos market Advanced Marketing BiMBA 2006

  11. Alternative “Marketing Mix” Analysis Company A Company B Company C Product: quality, value chain, benefits Target Segment: who, where when, why Place: distribution method and coverage Promotion: cost and method Advertising: strategy, media, timing & cost Price: retail, trade Advanced Marketing BiMBA 2006

  12. Ability to… Company A, etc…..US Conceive / design technical resources human resources Produce physical resources human resources Market sales force distribution system service and sale policy advertising Ability to… Company A, etc…..US Finance debt liquidity cash flow Manage human resources decision process planning Differential Advantage Analysis Advanced Marketing BiMBA 2006

  13. Critical Success Factors Comparison Critical Success Company A Company B Company C US Factors 1. hot design 2. Internet hype 3. trained sales reps 4. liberal return policy 5. mass distribution Overall rating (1 = low, 10= high) Advanced Marketing BiMBA 2006

  14. Assessing Competitors’ Will Company A Company B Company C How crucial is this very not very very product to the firm? How visible is the very none none commitment to market? How aggressive are very somewhat very the managers? Advanced Marketing BiMBA 2006

  15. What now? • What will be competitors’ strategies? • 1. continue as is • 2. change due to • Changes in marketplace • Changes in management • Changes in financial goals • How to determine new direction? • Management judgment • Simulation • What will be competitors’ reaction to our strategy? Advanced Marketing BiMBA 2006

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