5. • Identify Competitors
In the first step of the market is to identify the
competitors. Though it is very simple step, but
company tries to understand the segment of
the Competitors & basis of it, they recognize
the things.
Like
PepsiCo understand the Coca Colas Dasani in
competitors of its Aquafina.
6.
7. Analyzing Competitors
• Once company identifies its primary competitors,
the second stage is to identify its complete
Marketing programme. It includes following
things
• Strategies
• Objectives
• Strengths
• Weaknesses
8.
9. .
. Share of market
Share of mind
Share of heart
10. • Share of the market: How much share the competitors are holding in the
market.
• Share of the Mind: General customers who take the name first about
competitors
Question should be like
• Name the first company that comes to the mind in this industry
• Share of the product: General Customers who take the name first for their
choice
Question should be like this
• Name the company from which you would prefer to buy the goods
Company, which penetrates the mind as well, the heart of the Customer will
take no more time cover the share of the market.