Chapter 18 - 18 PrinciplesofMarketing CreatingCompetitive...

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Creating Competitive  Advantage Principles of Marketing 18 18
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Learning Objectives After studying this chapter, you should be able to: 1. Discuss the need to understand competitors as well  as customers through competitor analysis 2. Explain the fundamentals of competitive marketing  strategies based on creating value for customers 3. Illustrate the need for balancing customer and  competitor orientations in becoming a truly market- centered organization 18-2
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Chapter Outline 1. Competitor Analysis 2. Competitive Strategies 3. Balancing Customer and Competitor  Orientations 18-3
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Competitor Analysis Identifying Competitors Competitors can include: All firms making the same product or class  of products All firms making products that supply the  same service All firms competing for the same consumer  dollars 18-4
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Competitor Analysis Identifying Competitors Competitor myopia  refers to a firm focusing on  what it considers to be its direct competition  and not being aware of indirect or new  competitors 18-5
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Competitor Analysis Identifying Competitors Industry point of view  refers to competitors  within the same industry Market point of view  refers to competitors  trying to satisfy the same customer need or  build relationships with the same customer  group 18-6
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Competitor Analysis Identifying Competitors Market point of view is considered to provide a  broader set of actual and potential  competitors, and a  competitor map   illustrates the steps buyers take in obtaining  the product 18-7
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Competitor Analysis Identifying Competitors Competitor map highlights both competitive  opportunities and challenges facing the firm Center is the list of consumer activities First outer ring lists main competitors Second outer ring lists indirect competitors 18-8
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Competitor Analysis Assessing Competitors Competitor’s objectives Competitor’s strategies Competitor’s strengths and weaknesses Competitor’s actions and reactions 18-9
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Competitor Analysis Determining Competitor’s Objectives Competitor’s objectives include: Profitability Market share growth Cash flow Technological leadership Service leadership 18-10
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Competitor Analysis Identifying Competitor’s Strategies strategic group  is a group of firms in an industry  following the same or similar strategy in a given  target market Competition is most intense within a strategic group Competition among strategic groups is due to  overlapping customers and lack of perceived  differentiation and expansion of one strategic group  into new segments 18-11
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Competitor Analysis Identifying Competitor’s Strategies Companies need to understand the competitor’s ability to deliver value to its customers
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This note was uploaded on 04/08/2011 for the course BUS 312 taught by Professor Wittenberg,h during the Spring '08 term at University of Hawaii, Manoa.

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Chapter 18 - 18 PrinciplesofMarketing CreatingCompetitive...

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