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Analyzing Competitors.

Analyzing Competitors. Choose opportunities that avoid head–on competition. The competitive environment affects the number & types of competitors the marketing manager must face & how they may behave.

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Analyzing Competitors.

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  1. Analyzing Competitors.

  2. Choose opportunities that avoid head–on competition • The competitive environment affects the number & types of competitors the marketing manager must face & how they may behave. • Although marketing manager usually cant control these factors ,they can choose the strategies that avoid head on competition.

  3. Competitive information can be obtained from marketing research surveys ,Secondary sources (trade magazines ,distributors. • A company needs to answer five questions: • 1.Who are the competitors. • 2.What are their strengths & weaknesses? • 3.What are the strategic objectives & Thrusts of competitors?

  4. 4.What are their Strengths? • 5.What are their response Patterns?

  5. 1.Who are the competitors? • Those companies that are producing technically similar products are considered to be competition eg paint companies , • And those that solve the same problem or eliminate it in a dissimilar manner. • The environment needs to be scanned for potential entrants into industry. these can take two forms • One is entrants with technically similar product & those invading the market with substitutes.

  6. What are their strengths & weaknesses • A Precise understanding of competitors strengths & weaknesses is an important prerequisite of developing competitors strategy. • The process of data gathering needs to be managed so that information is available to compare our company with its chief competitors .

  7. This is three stage process: • 1.Identify key factors for success in the industry.e.g financial strength or flexible production. • 2.Rate one’s company & competitors on each key success factor : • Eg innovativeness,product quality • 3.Consumer implications for competitive strategy:convert our strength into betterment of organisation.

  8. What are the strategic objectives & thrusts of competitors • Knowing competitors strategic objectives is useful in predicting their likely strategies. • Strategic thrust refers to the future areas of expansion that a company might contemplate-( to consider). • For e.g. A build objective is likely to be accompanied with aggressive price & promotional moves, a hold objective will be more for stability .

  9. What are their response patterns. • A Major objective of competitors analysis is to be able to predict competitor response to market & competitive changes. Some markets are characterized by years of competitive stability. • Another situation where competitors are unlikely to respond is where their previous strategies have restricted their scope for retaliation.

  10. An eg: • A competitor was a major manufacturer of car number plates. A new entrant focused on one geographical base, supplying the same quality product but with an extra discount. The national supplier couldn't respond, since to give discount in this region would have meant granting the discount nation wide. • So sometimes there is response ,sometimes not.

  11. A company should be able to analyze a situation and competitors strategy. The end

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