MGMA01H3 Chapter Notes - Chapter 18: Competitor Analysis, Cost Leadership, Competitive Advantage
Document Summary
Identifying competitors assessing competitors" swot selecting which competitor to attack/avoid: assessing competitors, determining competitor"s objectives/priorities such as market share, cost leadership, cash flow etc. It reveals whether competitor is satisfied with current situation and how it will respond to certain changes: identifying strategies. Strategic group: group of firms in an industry following the same or a similar strategy in a given target market: assessing strengths and weaknesses. Customer value analysis: analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors" offerings. Strategic sweet spot: the spot where it meets customer"s needs in a way that rivals can"t: close and distant competitors. Nike vs. adidas: good or bad competitors. Company can benefit from competitors ie. starbucks helping smaller coffee shops get more customers: finding uncontested market spaces. Seek out unoccupied positions in uncontested market spaces.
