competitive advantage chapter : 18 lec: 10 a. competitor analysis competitive advantage an advantage...
TRANSCRIPT
![Page 1: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/1.jpg)
Competitive Advantage
Chapter : 18Lec: 10 a
![Page 2: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/2.jpg)
Competitor Analysis
• Competitive Advantage An advantage over competitors gained by
offering consumers greater value than competitors do
e.g. Monal• Competitor Analysis The process of identifying key competitors;
assessing their objectives, strategies, strengths, and weaknesses, and reaction patterns: and selecting which competitors to attack or avoid
![Page 3: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/3.jpg)
Monal
![Page 4: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/4.jpg)
Competitor Analysis
• Competitive marketing strategies Strategies that strongly position the company
against competitors and that give the company the strongest possible strategic advantage
![Page 5: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/5.jpg)
Steps ins Analyzing Competitors
Identifying the company’s competitors
Assessing competitors’ objectives, strategies, strengths and weaknesses, and reaction patterns
Selecting which competitor to attack or avoid
![Page 6: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/6.jpg)
Competitor Analysis• Identifying Competitors - similar products and services - Same customers - Similar prices e.g. Coke vs. Pepsi• Competitors Myopia - latent competitors can also be a threat along with the
current competitors e.g. Kodak – Fujifilm – Digital Cameras Telegraph department- cell phone/ Internet Encyclopaedia Britannica – Wikipedia etc.
![Page 7: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/7.jpg)
Coke vs. Pepsi
![Page 8: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/8.jpg)
Identifying Competitors
- Industry point of view e.g. Oil Industry, Automobile industry,
Telecom industry etc.- Market Point of view e.g. Satisfying the same customer need and
build relationship with the same customer
![Page 9: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/9.jpg)
Telecom Industry
![Page 10: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/10.jpg)
Assessing Competitors
• Determining Competitors’ Objectives - Importance on profitability, market share,
service, technology and other goals e.g. Objective low cost, it will reduce cost Zong - New segments e.g. Pizza Hut diverse menu Dominos – Only Pizza
![Page 11: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/11.jpg)
Assessing Competitors
• Identifying Competitors’ Strategies - Strategic Group: A group of firms in an industry
following the same or a similar strategy e.g. Surf Excel ---Ariel Lado Soap--- Gayee soap - A company can jump from one group to
another e.g. Life Bouy to premium sector
![Page 12: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/12.jpg)
Competitors
![Page 13: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/13.jpg)
Assessing Competitors
• Estimating Competitors’ Reactions - What will our competitors’ do? - price cuts, promotion, new product e.g. Telecom wars e.g. Lawn collections (Gul- Ahmed, Sana
Safinaz, Al-Karam)
![Page 14: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/14.jpg)
Assessing Competitors
• Assessing Competitors’ Strengths and Weaknesses - What can our competitors’ do? - gather information about them - Secondary sources are good for information - Companies can benchmark themselves Benchmarking Comparing company’s products and processes to
those of competitors or leading firms in other industries to identify “best practices” and find ways to improve quality and performance
![Page 15: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/15.jpg)
![Page 16: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/16.jpg)
![Page 17: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/17.jpg)
Selecting Competitors to Attack and Avoid
• Strong or weak competitors Customer value analysis Analysis conducted to determine what benefits
target customers value and how they rate the relative value of various competitors’ offers
e.g. Mac makeup– good quality Charles & Keith– comfortable and trendy
![Page 18: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/18.jpg)
Charles & Keith
![Page 19: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/19.jpg)
Strategic Sweet Spot versus Competitors
• u
Customers’ needs
Company’s capabilities
Competitors’ offerings
Competitive environment
![Page 20: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/20.jpg)
Selecting Competitors to Attack and Avoid
• Close or Distant Competitors e.g. Nike with Adidas and Reebok instead of
Bata - Banks taking over other banks
![Page 21: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/21.jpg)
Selecting Competitors to Attack and Avoid
• Good or Bad Competitors Good: go by the rules of the industry Bad: Break the rules or make their own rules
• Finding Uncontested Market Spaces - Blue ocean strategy
![Page 22: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/22.jpg)
Designing a Competitive Intelligence System
• Collecting• Analyzing • Action
![Page 23: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/23.jpg)
Competitive Strategies• Approaches to Marketing Strategy - No one strategy is best for every company - (Volunteer to Volunteer) V2 V marketing taking
a hype• Three stages of marketing strategy - Entrepreneurial Marketing---your own rules - Formulated Marketing---established companies
follow - Intrepreneurial Marketing---to get out of
formulated marketing and be close to customers
![Page 24: Competitive Advantage Chapter : 18 Lec: 10 a. Competitor Analysis Competitive Advantage An advantage over competitors gained by offering consumers greater](https://reader034.vdocuments.us/reader034/viewer/2022051316/56649f0d5503460f94c2097b/html5/thumbnails/24.jpg)
Basic Competitive Strategies
• 3 winning strategies- Overall cost leadership (production &
Distribution cost) e.g. Wal-Mart, Savor- Differentiation (something different) e.g. Samsung 3D Television- Focus (be specific about who you are targeting)