BADM 3401 Lecture Notes - Lecture 2: Competitor Analysis, Cinnabon, Airbnb
Document Summary
Ritz all hotels - same class of products. Identifying competitors: all companies with the same product or class of products, or, all companies that supply the same service, competitor myopia, industry point of view, market point of view. Have to understand competitive pattern of the industry. Competitors: companies that are trying to satisfy the same customer need or build relationships with the same customer group. Assessing competitors: determining competitors" objectives service leadership, identifying competitor"s strategies. Re: profitability, market share growth, cash flow, tech leadership, Reveals whether competitor is satisfied with its situation. Strategic group: groups of firms in an industry following the same or a similar strategy in a given target market ex. Ford and toyota - focus on low to medium price. Firms can always grow new segments: assessing competitors strength and weakness. Learn about competitors through: secondary data, word of mouth, personal experience.
