Competitors-Coraggio
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Transcript of Competitors-Coraggio
Competitive EnvironmentMarketplace, Competitors, Outside Threats and TrendsCoraggio C11:30 - 4:15 Friday 12th Aug, 2011
Agenda
1:30 - 1:50 Stimulation Keynote (outside scope)
1:50 - 3:00 Working session covering Market place, Competitors, Outside Threats and Trends
3:00 - 3:15 Break
3:15 - 4:15 Stump the Strategist session. Your chewiest marketing challenge solved live in 9 minutes.
Link to me on LinkedIn (Ashton Bishop) and you can download this presentation
WHICH WAY IS THE GIRLSPINNING?
Measure what’s right, not just what’s easyLook for opportunities, not just evidence Use the right toolsThink broadly, act narrowly - bring it back to growthThink 1000 days
Competitor Checklist
YOUR MARKET?
Defining your market is
the most important
business shaping decision you can make
YOUR MARKET?
Defining your market is
the most important
business shaping decision you can make
Narrow or wide
definition
YOUR MARKET?
Defining your market is
the most important
business shaping decision you can make
Defines
competitorsNarrow or wide
definition
YOUR MARKET?
Defining your market is
the most important
business shaping decision you can make
Defines
competitorsNarrow or wide
definition Defines
customers
YOUR MARKET?
Defining your market is
the most important
business shaping decision you can make
Defines
competitorsNarrow or wide
definition Defines
customers
Determines your
position in that
category
YOUR MARKET?
Defining your market is
the most important
business shaping decision you can make
Defines
competitorsNarrow or wide
definition Defines
customers
Determines your
position in that
category
Determines your
strategy for
growth
YOUR MARKET?
- Most wanted man in
the world?
YOUR MARKET?
- First solo trans-pacific air crossing?
- Most wanted man in
the world?
YOUR MARKET?
- First solo trans-pacific air crossing?
- First man on the moon?
- Most wanted man in
the world?
YOUR MARKET?
- Highest mountain in Australia?
- First solo trans-pacific air crossing?
- First man on the moon?
- Most wanted man in
the world?
YOUR MARKET?
Who remembers number 2?
- Highest mountain in Australia?
- First solo trans-pacific air crossing?
- First man on the moon?
- Most wanted man in
the world?
YOUR MARKET?
Who remembers number 2?
BE A MARKET LEADER
IN A SMALLER MARKET
- Highest mountain in Australia?
- First solo trans-pacific air crossing?
- First man on the moon?
- Most wanted man in
the world?
YOUR MARKET?
SOME TOOLS
For a SWOT analysis, conduct one for yourself and one for key competitors.
For a SWOT analysis, conduct one for yourself and one for key competitors.
STRENGTHS
For a SWOT analysis, conduct one for yourself and one for key competitors.
STRENGTHS WEAKNESSES
For a SWOT analysis, conduct one for yourself and one for key competitors.
STRENGTHS WEAKNESSES
OPPORTUNITIES
For a SWOT analysis, conduct one for yourself and one for key competitors.
STRENGTHS WEAKNESSES
THREATSOPPORTUNITIES
COMPETITIVE MAPPING
Noun = Name
Verb = Action
COMPETITIVE MAPPING
Direct Competitors
same noun/verb
Noun = Name
Verb = Action
COMPETITIVE MAPPING
Direct Competitors
same noun/verb
Substitute
different noun/
same verb
Alternative
same noun/
different verb
Noun = Name
Verb = Action
COMPETITIVE MAPPING
Direct Competitors
same noun/verb
Substitute
different noun/
same verb
Alternative
same noun/
different verb
Economic
different noun/verb
Noun = Name
Verb = Action
GJC COMPETITIVE MAPPING
“Espresso Coffee”
“Caffeine Hit”“Quick Coffee”
Instant coffee
Filtered coffee
snacks
soft drinks
better lunch
petrol
cigarettes
Caffeine soft drink
Tea
Easy Way
“bubble drinks”
Starbucks
McCafe
Coffee Club
Michel’s
Local cafe
Noun = Name
Verb = Action
Direct Competitors
same noun/verb
Substitute
different noun/
same verb
Alternative
same noun/
different verb
Economic
different noun/verb
Noun = Name
Verb = Action
“Cash
Takers”
INNOVATIVE ENTRANT MODELLING
INNOVATIVE ENTRANT MODELLING
ENTRANT 1 ENTRANT 2
ENTRANT 4ENTRANT 3
INNOVATIVE ENTRANT MODELLING
ENTRANT 1 ENTRANT 2
ENTRANT 4ENTRANT 3
FUTURES TUNNEL
Historical forces
FUTURES TUNNEL
Current impacts
Historical forces
FUTURES TUNNEL
Current impacts
Historical forces
Future considerations
FUTURES TUNNEL
Trends researchWhat’s the future looking like?
The Future
When working with a futurist they would generally ask you to look at 3 different futures.
The Future
PR
OB
AB
LE
What’s most likely to
happen in the next 10
years?
When working with a futurist they would generally ask you to look at 3 different futures.
The Future
PREFER
RED
PR
OB
AB
LE
What’s most likely to
happen in the next 10
years?
What would we like to happen?
And how can we help this eventuate?
When working with a futurist they would generally ask you to look at 3 different futures.
The Future
What might happen in
the next 10 years ?
PREFER
RED
PR
OB
AB
LE
POSSIBLE
What’s most likely to
happen in the next 10
years?
What would we like to happen?
And how can we help this eventuate?
When working with a futurist they would generally ask you to look at 3 different futures.
BINARY ANALYSIS
The Law of Selling by Dave Trott
How to make sure every $ you spend on marketing
only works for you
BINARY ANALYSIS
Where’s the growth?
• Net sum game
– More ads ≠ more money to spend
You can only get:
OR
BINARY ANALYSIS
Where’s the growth?
• Net sum game
– More ads ≠ more money to spend
You can only get:
1. New people to use
your product
– $ entering the
category
– $ switched from
your competitor
OR
BINARY ANALYSIS
2. Existing customers
– use more
(frequency)
– pay more (up-sell,
x-sell, premium)
Where’s the growth?
• Net sum game
– More ads ≠ more money to spend
You can only get:
1. New people to use
your product
– $ entering the
category
– $ switched from
your competitor
OR
BINARY ANALYSIS
Market Growth Brand Share
BINARY ANALYSIS
Market Growth Brand Share
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
Branding U.S.P. Branding U.S.P. Branding U.S.P. Branding U.S.P.
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
Branding U.S.P. Branding U.S.P. Branding U.S.P. Branding U.S.P.
Market Leader should normally look to grow
the market
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
Branding U.S.P. Branding U.S.P. Branding U.S.P. Branding U.S.P.
Market Leader should normally look to grow
the market
Will join the category from next most attractive
alternative
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
Branding U.S.P. Branding U.S.P. Branding U.S.P. Branding U.S.P.
Market Leader should normally look to grow
the market
Will join the category from next most attractive
alternative
Currently your competitors’ customers
BINARY ANALYSIS
Market Growth Brand Share
Current Users Triallists Current Users Triallists
Branding U.S.P. Branding U.S.P. Branding U.S.P. Branding U.S.P.
Market Leader should normally look to grow
the market
Will join the category from next most attractive
alternative
Currently your competitors’ customers
Be honest if no real USP and make your
branding strong!
BINARY ANALYSIS
VS
MARKET GROWTH
Current Users
Branding U.S.P.U.S.P.
TRIALISTS
BRANDING
MARKET GROWTH
Current Users
Branding U.S.P.U.S.P.
TRIALISTS
BRANDING
MARKET GROWTH
Current Users
U.S.P.U.S.P.
TRIALISTS
BRANDINGBranding
MARKET GROWTH
Current Users
U.S.P.U.S.P.
TRIALISTS
BRANDINGBranding
BRAND SHARE
Current Users
Branding U.S.P.U.S.P.
TRIALISTS
BRANDING
BRAND SHARE
Current Users
Branding U.S.P.U.S.P.
TRIALISTS
BRANDING
BRAND SHARE
Current Users
Branding U.S.P.U.S.P.
TRIALISTS
BRANDING
Current Users
U.S.P. U.S.P.
TRIALISTS
BRANDINGBranding
BRAND SHARE
Current Users
U.S.P. U.S.P.
TRIALISTS
BRANDINGBranding
BRAND SHARE
Current Users
U.S.P. U.S.P.
TRIALISTS
BRANDINGBranding
BRAND SHARE
Current Users
U.S.P. U.S.P.
TRIALISTS
BRANDINGBranding
BRAND SHARE
CURRENT
USERS
BRANDING U.S.P.U.S.P.
TRIALISTS
BRANDING
MARKET
GROWTH
CURRENT
USERS
BRANDING U.S.P.U.S.P.
TRIALISTS
BRANDING
MARKET
GROWTH
CURRENT
USERS
BRANDING U.S.P.U.S.P.
TRIALISTS
BRANDING
MARKET
GROWTH
CURRENT
USERS
BRANDING U.S.P.U.S.P.
TRIALISTS
BRANDING
MARKET
GROWTH
COMPETITIVE ENVIRONMENT
WHY YOU NEED IT AND HOW TO USE ITCOMPETITION IS GETTING TOUGHER!Knowing your competitors' key strengths
and weaknesses is not only a great place
to learn and find business growth - it’s
crucial in how you differentiate your
business.
Without a differentiating factor there
really is no reason for your customers
to spend money with you, instead of with
your competitors.
You’ll also want to have a look at the
environment in which you’re operating in.
Knowing what trends will impact your
category, and what the threats are, can
help future-proof your business.
OUR EXAMPLE:
CATEGORY: COACHED MARKETING SERVICESMAIN COMPETITORS:
COMPETITOR PRIORITY STRENGTHS
Traditional Creative
Agencies (Do It For Me)1
Established and entrenched relationships;
opportunities to swim upstream, killer polish on
production, breadth of production
Brand Consultants
(Do It For Me)2
Reputation, inflated price-point is seen as an indicator
of quality and credibility through associations with big
brands
Seminars, Speakers,
Coaches (Do It With Me)3
Low price points, seen as experts often without real
experience, focused, high profile
In-house, Books, Digital
Support (Do It Yourself)4 Cost effective
OUTSIDE THREATS: TRENDS
US/OS based effective online
tutorials/webinars (Google)
Business coaches: Brad Sugars/
Rogen International
Increasing competition
and pressure on margins
Growing numbers of
small businesses
RESOURCES & REFERENCES
www.google.com/trends
www.google.com/press/zeitgeist
www.trendspotting.com
www.trendwatching.com
www.fastflip.googlelabs.com
www.springwise.com
I N S P I R AT I O N
MASSAGE THERAPIST
VSSPORTS MASSAGE THERAPIST
VSPERFORMANCE ATHLETE
REHABILITATIVE MASSAGE
YOU WANT TO BE
MORE RELEVANT
TO A SMALLER NUMBER OF PEOPLE