Competition Analysis

769 views

Published on

  • Be the first to comment

  • Be the first to like this

Competition Analysis

  1. 1. Competition Analysis An analysis of the primary strengths and weaknesses , objectives , strategies, and other information relative to competitors. Jackwinder Singh Uppal
  2. 2. • An analysis solely of physical differences usually misses major competitive advantages or disadvantages. • A competitive analysis must extend beyond inventory comparison. • True competitive advantages are factors that are recognized by guests and influence their purchase decisions. • A creative and alert marketing manager will recognize competitive variables that are truly of importance to customers and are controllable.
  3. 3. • Such a manager will develop strategies and tactics to improve areas of weakness and enhance already strong points. • Single best way to conduct a competitive analysis is to involve members of the marketing sales department, such as the sales force. • These people often have difficulty discussing environmental variables such as interest rates, but they can talk knowledgeably for hours about the competition and guest preferences.

×