Chapter18- Marketing.pdf

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Management and Organizational Studies
Management and Organizational Studies 2320A/B
Angela White

Chapter Eighteen Creating Competitive AdvantageCompetitive AdvantageAn advantage over competitors gained by offering consumers greater value than competitors doCompetitor analysis The process of identifying key competitors assessing their objectives strategies strengths and weaknesses and reacting patterns and selecting which competitors to attack or avoidCompetitive Marketing Strategies Strategies that strongly position the company against competitors and give the company the strongest possible strategic advantageCompetitive advantages require delivering more value and satisfaction to target consumers than competitors doCompetitive marketing strategies are how companies analyze their competitors and develop valuebased strategies for profitable customer relationships1 Creating Competitive AdvantageCompetitor analysis is the process of identifying assessing and selecting key competitors Competitor AnalysisCompetitors can includeAll firms making the same product or class of productsAll firms making products that supply the same serviceAll firms competing for the same consumer dollarsAssessing Competitors Competitor Objectives Profitability Market Share Growth Cash Flow Technological Leadership Service LeadershipCompetitors Strategies Strategic group offers the strongest competitionA Strategic Group is a group of firms in an industry following the same or similar strategies in a given target market
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