2014 slides7 - MODULE 3 FRAMEWORKS AND MODELS FOR MARKET...

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Competitive Analysis MODULE 3 - FRAMEWORKS AND MODELS FOR MARKET PLANNING & ANALYSIS SLIDE SET 7 Summer 2014
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Competitive Analysis Frameworks 1. SWOT 2. ANSOFF 3. BOSTON CONTENT 2
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Competitive Analysis
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COMPETITIVE ANALYSIS Why? To become familiar with competi tors and structure Find and focus on a gap or niche .. Allows you to avoid a very competi ti ve industry 4
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Consider the Current competition and split them into - Primary and Secondary Future competition and do not split these up So you will have to review three groups Current Primary Current Secondary Future Look to industry rivals and substitutes in Porter as a guide to who is included or not included Note the difference of identical vs. close substitutes HOW TO DEFINE COMPETITORS 5
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Group competition Use groupings of competitors as opposed to names of competitors to reduce data collection and analysis Ex: fast food competitors, grocery store competitors versus store names etc. Example: Coffee shops Franchise outlets Non- franchise outlets Grocery Stores Vending Machines 6
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Current - Primary competi tors are businesses that are offering identi cal or similar products or services as your business. Firms that customers can easily buy from instead of from you, Represent your most intense competition First-mover advantage fits here Example: Cupcakes and Big City Cupcakes Current - Secondary competi tors are businesses that are offering products and services that are close substi tutes. Firms/Products offer same or similar value proposition, but deliver a different product Example: netbook, laptop, tablet, e reader, cell phone, & camera 7
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Future competi tors are existi ng companies that are not yet competitors but could be soon Who are the potential competitive entrants? What are their barriers to entry? Is there anything that can be done to discourage them? Example: Amazon and Chapters; Net flicks and ITunes and Blockbuster Focus on identi fying major competi tors that have or will have a major impact on your business over ti me.
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