PPT Dealing With Competition
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Transcript of PPT Dealing With Competition
![Page 1: PPT Dealing With Competition](https://reader034.fdocuments.us/reader034/viewer/2022042500/5479634fb37959892b8b473f/html5/thumbnails/1.jpg)
1
Dealing with Competition
Rye GutierrezAteneo Graduate School of Business
www.rye-gutierrez.blogspot.com
Top 10 Concepts
Power Point Version
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Outline: Dealing with Competition…
Concept 1: Effective marketing strategies involve studying competitors and competitive forces. (who?)
Concept 2: The 5 Competitive Forces
Concept 3: Marketers need to identify competitors' strategies, objectives, strengths and weaknesses. (what?)
Concept 4: A company should identify competitors by using both industry- and market-based analyses.
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Outline: Dealing with Competition…
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?)
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.
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Outline: Dealing with Competition…
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.
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Concept 1:
Marketing strategies = competitors + competitive forces.
Building strong brands require a keen understanding of competition.
Effective marketing strategies involve studying competitors and competitive forces.
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The 5 Competitive Forces that determine the long-term attractiveness of a market are:
1. Industry Competitors2. Potential Entrants3. Substitutes4. Buyers 5. Suppliers
Concept 2:
“May the Force be with you.”
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Marketers need to identify competitors' strategies, objectives,
strengths and
weaknesses.
Concept 3:
“Know thy neighbor.”
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A company should identify competitors by using both industry- and market-based analyses.
Is your competition the opposing brand or the substitute product?
Does the market prefer talking on the phone over chatting?
Concept 4:
Identify Competitors
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There are four roles that firms can play in a market:
1. the market leader2. the market challenger3. the market follower4. the market nicher
Concept 5:
“Role Call”
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If you are the market leader, you must continuously innovate to retain and expand position.
Unless there is a legal monopoly, vigilance is a must.
Concept 6:
“Follow the Leader.”
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If you are the market challenger, you must address areas that the market leader cannot serve.
Market share can also be gained from the followers and nichers.
Concept 7:
Challenger
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If you are the market follower, you must know how to hold current customers and win a fair share of new ones.
Preference of many companies because less capital intensive.
Tries to bring distinctive advantages to its target market.
Concept 8:
Market Follower
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If you are the market nicher, you must be a leader in a small market.
Can command top dollar because of specialized skills/products.
Strategy is effective for both small and large firms.
Concept 9:
Market Nicher
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Companies should maintain a good balance of consumer and competitor monitoring to satisfy the needs of today's global market.
Companies should not overdo emphasis on competitors.
Concept 10:
Balance
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Summary: Dealing with Competition is…
1. Necessary2. Focused on consumers and
competitors3. Depends on Market Position4. Involves everybody (who?) 5. Changing
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My Conclusion: Dealing with Competition
Overcoming competition requires
attention to competitors
as well as consumers
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17
Dealing With Competition
Rye GutierrezAteneo Graduate School of Business
www.rye-gutierrez.blogpsot.com
Top 10 Concepts
THE END