competitor analysis

Competitive analysis Nivethitha : 

Competitive analysis Nivethitha

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Competitor analysis in marketing is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context through which to identify opportunities and threats

Competitor profiling : 

Competitor profiling A common technique is to create detailed profiles on each of your major competitors. These profiles give an in-depth description of the competitor's background, finances, products, markets, facilities, personnel, and strategies.

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Background location of offices, plants, and online presences history - key personalities, dates, events, and trends ownership, and organizational structure Financials profitability various financial ratios, liquidity, and cash flow Profit growth profile

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Products products offered, new products developed, new product success rate, and R&D strengths brands, strength of brand portfolio, brand loyalty and brand awareness patents and licenses quality control conformance Marketing Segments served marketing mix

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Facilities plant capacity, capacity utilization rate, age of plant, plant efficiency, capital investment location, shipping logistics Personnel number of employees, key employees, and skill sets strength of management, and management style compensation, benefits, and employee morale & retention rates

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Corporate and marketing strategies objectives, mission statement, growth plans, acquisitions, and divestitures marketing strategies (offensive or defensive)

Media scanning : 

Media scanning Scanning competitor's ads can reveal much about what that competitor believes about marketing and their target market. Changes in a competitor's advertising message can reveal new product offerings, a new branding strategy, a new positioning strategy, a new segmentation strategy, new pricing strategy a new promotion strategy

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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.

New competitors : 

New competitors In addition to analyzing current competitors, it is necessary to estimate future competitive threats. 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