Competitive Analysis and a Brief Guide to Competitor Analysis
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Competitive Analysis and a Brief Guide to Competitor Analysis

Competitive Analysis and a Brief Guide to Competitor Analysis

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    Competitive Analysis and a Brief Guide to Competitor Analysis Competitive Analysis and a Brief Guide to Competitor Analysis Presentation Transcript

    • COMPETITIVE ANALYSIS AND A BRIEF GUIDE TO COMPETITOR ANALYSIS Prepared by: GREGAR DONAVEN E. VALDEHUEZA, MBA Lourdes College Instructor
    • Learning Objectives
      • Describe the competitors.
      • Discuss the importance of monitoring the competitors.
      • Explains the stages of monitoring the competitors.
      • Illustrates the different or various marketing strategies.
    • Questions in Analyzing Competitors
      • Who are your competitors?
      • What customer needs and preferences are you competing to meet?
      • What are the similarities and differences between their products/services and yours?
      • What are the strengths and weaknesses of each of their products and services?
      • How do their prices compare to yours?
      • How are they doing overall?
      • How do you plan to compete?
      • Offer better quality services?
      • Lower prices?
      • More support?
      • Easier access to service?
      • How are you uniquely suited to compete with them?
    • Sun Tzu and the Art of War
      • If you are ignorant of both your enemy and yourself, then you are a fool and certain to be defeated in every battle.
      • If you know yourself, but not your enemy, for every battle won, you will suffer a loss.
      • If you know your enemy and yourself, you will win every battle.
    • Who is a competitor in business?
      • Other organizations offering the same product or service now .
      • Other organizations offering similar products or services now .
      • Organizations that could offer the same or similar products or services in the future .
      • Organizations that could remove the need for a product or service.
    • Why monitor competitors?
      • By knowing our competitors, we may be able to predict their next moves , exploit their weaknesses and undermine (weaken) their strengths .
      “ It is pardonable to be defeated, but never to be surprised.” - Frederick the Great -
    • So what is involved?
      • Four stages in monitoring competitors
        • C ollecting the information
        • C onverting information into intelligence ( CIA )
            • C ollate and catalogue
            • I nterpret it
            • A nalyze it
        • C ommunicating the intelligence
        • C ountering any adverse competitor actions.
    • Collecting the Information
      • Sales Representatives ( business foot soldiers )
      • Research and Development ( new patents )
      • Purchasing ( suppliers )
      • Market Research ( consumers )
      • Web ( advertisement & information )
          • Dun & Bradstreet (information about companies)
          • Derwent Information (patent)
          • The Dialogue Corporation (global press information)
    • So what is involved?
      • Four stages in monitoring competitors
        • C ollecting the information
        • C onverting information into intelligence ( CIA )
            • C ollate and catalogue
            • I nterpret it
            • A nalyze it
        • C ommunicating the intelligence
        • C ountering any adverse competitor actions.
    • Information to Intelligence
      • C ollate and catalogue
      • I nterpret it
      • A nalyze it
    •  
    •  
    • So what is involved?
      • Four stages in monitoring competitors
        • C ollecting the information
        • C onverting information into intelligence ( CIA )
            • C ollate and catalogue
            • I nterpret it
            • A nalyze it
        • C ommunicating the intelligence
        • C ountering any adverse competitor actions.
    • Communicating the Intelligence
      • Secrecy is important but competitor intelligence needs to be evaluated and selectively communicated to all who need to make decisions based on what customers, suppliers, or other companies in the market are doing or are likely to do.
    • So what is involved?
      • Four stages in monitoring competitors
        • C ollecting the information
        • C onverting information into intelligence ( CIA )
            • C ollate and catalogue
            • I nterpret it
            • A nalyze it
        • C ommunicating the intelligence
        • C ountering any adverse competitor actions.
    • Countering Competitor Actions
      • Marketing Warfare Strategies
      • types of strategies used in business and marketing, that try to draw parallels between business and warfare, and then apply the principles of military strategy to business situations, with competing firms considered as analogous to sides in a military conflict , and market share considered as analogous to the territory which is being fought over .
      • Various Military Strategies
        • Flanking strategies - strategies designed to minimize confrontational losses
        • Encirclement and siege strategies - type of marketing warfare strategy designed to obtain an objective, usually market share, from a target competitor.
        • Frontal attacks - an offensive maneuver in which the main action is directed against the front of the enemy forces.
        • Guerrilla marketing - is an unconventional system of promotions that relies on time, energy and imagination rather than a big marketing budget.
    • References:
      • http://managementhelp.org/mrktng/cmpetitr/cmpetitr.htm
      • http://dspace.dial.pipex.com/aware/competitor-analysis.shtml
      • http://en.wikipedia.org/wiki/Marketing_warfare_strategies
    • Assignment
      • Research different marketing strategies on the net. To be submitted on ________________.
      • Don’t forget to write your references.
    • - THE END -
      • GOOD DAY!!! 