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Chapter 18

Chapter 18 notes

3 Pages
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Department
Management (MGM)
Course Code
MGMA01H3
Professor
Aggrawal

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Competitor Analysis
In order to remain competitive, companies must move from product-and-selling philosophy to a
customer-and-marketing philosophy.
Customers will see competitive advantage as customer advantage
Competitor Analysis consists of:
(1) Identifying and selecting key competitors
(2) Developing competitive marketing strategies to provide be best competitive advantage
Companies must constantly compare its strategies, products, prices and promotions to competi-
tors
Identifying Competitors
Who produces the (1) exact product or (2) similar product or (3) wants the consumer dollars?
At times, possible threateners can be indirect companies who cease an opportunity and destroy
the sales of another company
Companies can identify their competitors from the industry or market point of view (the latter
means companies who are trying to satisfy the same customers)
Assessing Competitors’ Objectives
Strategic Group: A group of firms in an industry following the same or a similar strategy in a given
target market. Although competition is most intense within a strategy group, there is also rivalry
among groups (due to overlapping customer segmentation)
Benchmarking: The process of comparing the company’s products and processes to those of com-
petitors or leading firms in other industries to identify “best practices” and fine ways to improve
quality and performance
Selecting Competitors to Attach and Avoid
April 24, 2011 4:27 PM
W3.Ch18: Creating Competitive Advantage
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Description
April 24, 2011 4:27 PM W3.Ch18: Creating CompetitiveAdvantage CompetitorAnalysis In order to remain competitive, companies must move from product-and-selling philosophy to a customer-and-marketing philosophy. Customers will see competitive advantage as customer advantage CompetitorAnalysis consists of: (1) Identifying and selecting key competitors (2) Developing competitive marketing strategies to provide be best competitive advantage Companies must constantly compare its strategies, products, prices and promotions to competi- tors Identifying Competitors Who produces the (1) exact product or (2) similar product or (3) wants the consumer dollars? At times, possible threateners can be indirect companies w
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