how do marketers identify and analyse competition
Post on 17-Aug-2015
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How do marketers identify and analyse competition?
Identifying Competitors
Start with
Category membershipDetermining products or its substitutes with which a brand competes
Vs
Vs
Simple??
Marketers “ Competitors are companies that satisfy same customer need”
Market Myopia
Coca-Cola focused on soft drink business and missed seeing the market for juice bars and Coffee bars
Stop defining competition in traditional category
Be aware of Emerging competitorswith new technologies
Mapping the buyer’s stepsin obtaining and using the product
Key to profile Direct and Indirect competitors
Analysing competitors
Know about your competitor’s real and perceived
Strengths and Weaknesses
Identify your competitors
Strategies
Most importantly find out their
objectives
Recap
Identifying competitors Category Membership Market Myopia Analysing Competitors
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