From a tactical perspective it can also be used to help a manager implement his

From a tactical perspective it can also be used to

This preview shows page 10 - 13 out of 27 pages.

From a tactical perspective, it can also be used to help a manager implement his own media plan. By knowing the competitor's media buy, media selection, frequency, reach, continuity, schedules, and flights, the manager can arrange his own media plan so that they do not coincide. Other sources of corporate intelligence include trade shows, patent filings, mutual customers, annual reports, and trade associations. Some firms hire competitor intelligence professionals to obtain this information. The Society of Competitive Intelligence Professionals maintains a listing of individuals who provide these services.
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New competitors for our smart toys company: In addition to analyzing current competitors, it is necessary to estimate future competitive threats for our smart toys company. The most common sources of new competitors are: Companies competing in a related product/market Companies using related technologies Companies already targeting your prime market segment but with unrelated products Companies from other geographical areas and with similar products New start-up companies organized by former employees and/or managers of existing companies. The entrance of new competitors is likely when: There are high profit margins in the industry There is unmet demand (insufficient supply) in the industry There are no major barriers to entry There is future growth potential Competitive rivalry is not intense Gaining a competitive advantage over existing firms is feasible Dissatisfaction with the existing suppliers Competitive Advantage for the smart toys company: Businesses are constantly seeking competitive advantages in the marketplace. There are many different ways in which this can be done, but many will focus on a few tried and true methods of gaining a leg up on the competition. These methods can generally be classified into about four different primary categories. Both Stanford University and the University of Cambridge cite Michael Porter's broad and narrow categories of competitive strategies as the basis for understanding how businesses try to compete. Cost Leadership: Cost leadership is the first competitive advantage for the smart toys company businesses often attempt to gain. Cost leadership as an advantage occurs when a business is able to offer the same quality product as its competitors, but at a lower price. Cost leadership can occur when a company finds ways to produce goods at a lower cost through the
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perfection of production methods or by the utilization of resources in a more efficient manner than competitors. Other factors, such as proprietary technology, can also factor into this type of advantage. Cost leadership may be classified as an offensive strategy, whereby businesses attempt to drive competitors out of the market by consistently using price strategies designed to win over consumers.
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  • Spring '16
  • Sir Abdul salam
  • Marketing, Smart Toys

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