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Competitors assessing strengths and weaknesses

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Unformatted text preview: es Strategic groups Assessing competitors’ Assessing strengths and weaknesses weaknesses Benchmarking Estimating competitors’ Estimating reactions reactions Competitor Analysis Steps in the Steps Process: Process: Identifying Identifying Competitors Competitors Assessing Assessing Competitors Competitors Selecting Selecting Competitors to Attack or Avoid Attack Strong or weak Strong competitors competitors Customer value analysis Close or distant Close competitors competitors Most companies compete Most against close competitors against “Good” or “Bad” Good” competitors competitors The existence of The competitors offers several strategic benefits strategic Competitive Strategies Basic Winning Competitive Strategies: Porter Strategies: Overall cost leadership Lowest production and distribution costs Differentiation Creating a highly differentiated product line and marketing program Focus Effort is focused on serving a few market segments Hohner has successfully implemented a focus strategy to capture an 85% share of the harmonica market. Competitive Strategies Basic Competitive Strategies: Value Disciplines Value Operational excellence Superior value via price and convenience Superior Customer intimacy Customer intimacy Superior value by means of building strong relationships with buyers and satisfying needs Product leadership Product leadership Superior value via product innovation Superior Figure 18-3: Hypothetical Market Structure Competitive Strategy Competitive Competitive Positions Positions Market Leader Market Market Challenger Challenger Market Market Follower Follower Market Nicher Expanding the total Expanding demand demand Finding new users Discovering and Discovering promoting new product uses uses Encouraging greater Encouraging product usage product Protecting market share Many considerations considerations Continuous innovation Expanding market share Profitability rises with Profitability market share market Competitive Strategy WD-40 has a knack for developing new uses fo...
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