Mark 442 Conducting a Competitor Analysis Lecture 4 Lecture Objectives After this lesson you should be able to: 1. define competition. 2. describe why you cannot conduct a competitor analysis without looking at the target market (consumer). 3. describe 4 levels at which competition can be assessed at. 4. describe why the level at which you assess competitors change as the level of country wealth changes. 5. state the five primary factors competitors are assessed on and the associated subfactors. 6. describe four types of competitor reactions. 7. describe why marketers need to assess consumer share of heart and share of mind. Notes Part I Assessing the Competition 1. Definition of Competition (Obj: 1) Competitors include companies that sell the same or similar productsmarketing mix to similar target markets in the same geographic area. 2. (Obj: 2)When assessing the competition, we need to look at both what the competition is doing and what the attitudes and preferences of the consumer are. Thus, one cannot assess the competition independently of consumers. ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ 3. Levels of Competition Analysis (Obj: 3) The poorer the countrymarket, the more likely you will need to assess the competition at a generic competition level. As the countrymarket becomes more competitive you are more likely to assess the competition at a product form level. Budget competition: _______________________________________________________ Generic competition: ______________________________________________________ Product category competition: _______________________________________________ Product form competition: _________________________________________________.