2) How do marketers identify & analyze

competition ?

To analyze the competitor the question arises how to start?

Announcing category benefitsAnnouncing category benefits

Comparing to exemplarsComparing to exemplars

Relying on the product descriptor

Relying on the product descriptor

Identifying Category Membership

But

wait……

You must also keep a watch of emerging competitors and new technologies if brand wants explicit growth.

Coca cola

coca cola focused on its soft drink business ,missed seeing the market for coffee bars and fresh fruit juice bars that eventually impinged on its soft drink business.

Here are some examples:---1) Pepsico knows coca cola is its competitor.2)Citigroup V/S bank of America3) petsmart.co V/S petco.com

There are two type of competitors

Industry competitors Market competitors

Industry competitors are classified on the basis of

Degree of products differentiation Presence or

absence of entry

Mobility and exit barriers

Cost structure

Degree of vertical integration

No of sellers

Market competitors are the companies

that satisfy the same customer need.

For example :-----

High growth through

Help firm to tap into new markets while minimizing competition from others.

W. Chan KimRenee mauborgne

Advocates engaging in “blue ocean thinking” instead of “Red ocean thinking” .

Blue ocean thinking

Companies should find unoccupied market position that represent real value innovation. A classic example:---

Bert clayes , a belgain company that operate movie theatre through smart planning and economies of sale created a unique cinema experience at lower cost.

Now the

question

arises h

ow

these

competit

ors

should be

analyzed?

Gather information about competitor’s real and perceived strength

And

weakness

……………

Strategy

And objective of the company

Competitor share of market

Competitor share of mind of consumers

Competitor share of heart with respect to

customers

Analyze three things about competitor

Created by PRIYANKA GOYAL ,MNNIT ALLAHABAD ,during an internship by prof . SAMEER MATHUR ,IIM LUCKNOW .