how do marketers identify and analyse competition
TRANSCRIPT
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Identifying and
Analysing Competitors
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Identify
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Determine Category Membership
The products or sets of product with which a brand competes and which function as close substitutes.
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Who are Competitors?
Marketers classify industries based on
1) No. of Sellers2) Degree of product differentiation3)Presence or absence of entry, mobility and exit barriers4)Cost structure5)Degree of vertical Integration6)Degree of globalization
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Who are Competitors?
Using Marketing approach,
Competitors are companies that satisfy the same customer need.
The Plot Thickens here
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Analyse
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Conduct a SWOT analysis that includes competitive analysis
To identify main competitors and their strategies.
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Now, Ask yourself:
What is each competitor seeking in the market place?
What drives each competitor’s behaviour?
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Based on the analysis:
Marketers define the competitive frame of reference to guidepositioning.
In dynamic categories,Multiple framesof reference may arise.
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Created by Sadhique K Kunhahamed, IIITD&M-K, during an internship by Prof. Sameer Mathur, IIM Lucknow.
www.IIMInternship.com
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Thank You