how do-marketers-identify-and-analyze-competiton
TRANSCRIPT
How do marketers identify and
analyze Competition?
- Arushi Agrawal IIT Kanpur
INDENTIFYING COMPETITORS
Determine Category Membership – The product or sets of products with which a brand competes and function as close substitutes
COMPETITORS
Identifying and Analyzing Competitors
INDUSTRY COMPETITION: Products close substitute to each other
MARKET COMPETITION: Companies satisfying same customer needs
The range of actual and potential competitors can be much broader than the obvious.
A company is more likely to be hurt by emerging competitors than by current competitors.
ANALYZE
Company needs to gather information about each competitor’s real and perceived strengths and weaknesses
What is each competitor seeking in the marketplace?
What drives each competitor’s behaviour?
ASK QUESTIONS?
RECAP
• Determining category membership• Identifying and analysing competitors• SWOT analysis• Asking questions
These slides were created by
Arushi Agrawal, IIT Kanpur, during a Marketing internship by Prof. Sameer Mathur, IIM Lucknow
(See www.IIMInternship.com )