PPT Dealing With Competition

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PPT Dealing With Competition

  1. 1. Dealing with Competition Rye Gutierrez Ateneo Graduate School of Business www.rye-gutierrez.blogspot.com Top 10 Concepts Power Point Version
  2. 2. Outline: Dealing with Competition… <ul><li>Concept 1: Effective marketing strategies involve studying competitors and competitive forces. (who?) </li></ul><ul><li>Concept 2: The 5 Competitive Forces </li></ul><ul><li>Concept 3: Marketers need to identify competitors' strategies, objectives, strengths and weaknesses. (what?) </li></ul><ul><li> Concept 4: A company should identify competitors by using both industry- and market-based analyses. </li></ul>
  3. 3. Outline: Dealing with Competition… <ul><li>Concept 5: There are four roles that firms can play in a market: the market leader, the market challenger, the market follower, the market nicher. Important to business success (why?) </li></ul><ul><li>Concept 6: If you are the market leader, you must continuously innovate to retain and expand position. Concept 7: If you are the market challenger, you must address areas that the market leader cannot serve. </li></ul>
  4. 4. Outline: Dealing with Competition… <ul><li>Concept 8: If you are the market follower, you must know how to hold current customers and win a fair share of new ones. Concept 9: If you are the market nicher, you must be a leader in a small market. Concept 10: Companies should not overdo emphasis on competitors. </li></ul>
  5. 5. Concept 1: M arketing strategies = competitors + competitive forces. <ul><li>Building strong brands require a keen understanding of competition. </li></ul><ul><li>Effective marketing strategies involve studying competitors and competitive forces. </li></ul>
  6. 6. <ul><li>The 5 Competitive Forces that determine the long-term attractiveness of a market are: </li></ul><ul><ul><li>Industry Competitors </li></ul></ul><ul><ul><li>Potential Entrants </li></ul></ul><ul><ul><li>Substitutes </li></ul></ul><ul><ul><li>Buyers </li></ul></ul><ul><ul><li>Suppliers </li></ul></ul>Concept 2: “May the Force be with you.”
  7. 7. <ul><li>Marketers need to </li></ul><ul><li>identify competitors' strategies, objectives, </li></ul><ul><li>strengths and </li></ul><ul><li> weaknesses. </li></ul>Concept 3: “ Know thy neighbor.”
  8. 8. <ul><li>A company should identify competitors by using both industry- and market-based analyses. </li></ul><ul><li>Is your competition the opposing brand or the substitute product? </li></ul><ul><li>Does the market prefer talking on the phone over chatting? </li></ul>Concept 4: Identify Competitors
  9. 9. <ul><li>There are four roles that firms can play in a market: </li></ul><ul><li>the market leader </li></ul><ul><li>the market challenger </li></ul><ul><li>the market follower </li></ul><ul><li>the market nicher </li></ul>Concept 5: “ Role Call”
  10. 10. <ul><li>If you are the market leader, you must continuously innovate to retain and expand position. </li></ul><ul><li>Unless there is a legal monopoly, vigilance is a must. </li></ul>Concept 6: “Follow the Leader.”
  11. 11. <ul><li>If you are the market challenger, you must address areas that the market leader cannot serve. </li></ul><ul><li>Market share can also </li></ul><ul><li>be gained from the followers and nichers. </li></ul>Concept 7: Challenger
  12. 12. <ul><li>If you are the market follower, you must know how to hold current customers and win a fair share of new ones. </li></ul><ul><li>Preference of many companies because less capital intensive. </li></ul><ul><li>Tries to bring distinctive advantages to its target market. </li></ul>Concept 8: Market Follower
  13. 13. <ul><li>If you are the market nicher, you must be a leader in a small market. </li></ul><ul><li>Can command top dollar because of specialized skills/products. </li></ul><ul><li>Strategy is effective for </li></ul><ul><li>both small and large firms. </li></ul>Concept 9: Market Nicher
  14. 14. <ul><li>Companies should maintain a good balance of consumer and competitor monitoring to satisfy the needs of today's global market. </li></ul><ul><li>Companies should not overdo emphasis on competitors. </li></ul>Concept 10: Balance
  15. 15. Summary: Dealing with Competition is… <ul><li>Necessary </li></ul><ul><li>Focused on consumers and competitors </li></ul><ul><li>Depends on Market Position </li></ul><ul><li>Involves everybody (who?) </li></ul><ul><li>Changing </li></ul>
  16. 16. My Conclusion: Dealing with Competition <ul><li>Overcoming competition requires </li></ul><ul><li>attention to competitors </li></ul><ul><li>as well as consumers </li></ul>
  17. 17. Dealing With Competition Rye Gutierrez Ateneo Graduate School of Business www.rye-gutierrez.blogpsot.com Top 10 Concepts THE END

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