Industry Analysis for Speedo UK's Competitive Market
Competitors
Framework of Porter’s Five Forces, give overall view’s on industry analysis for Speedo UK competitive market. Threat of new entrants is at minimum and even if there are, they are less likely to form threats to Speedo. As Threat of substitutes, hardly any form of substitute can be consider for swimwear. For both bargaining power of suppliers and buyers, Speedo is a big and strong brand in the market but must aware of customers’ price sensitivity and affected by low switching cost. The real threats will be from its existing market competitor rivals like Arena, TYR, Nike and Adidas.
Strong Rivalry in Competitive Markets
Arena and TYR swimwear is strongest rival among competitive markets with both having their own history and technology swim suits (refer to appendix). Price difference is low but Speedo still emerge as top. With such close rivalry, maintaining or gaining markets share will be tightly link with company’s performance in all areas like technology, marketing strategy and analysing of trend changes.
Other Rivalry
Nike and Adidas are not really excel in producing swimwear but their strong brand names affect buyer’s behaviour. Nike however, do have a competitive suit name Liftsuit series for professional users while Adidas doesn’t have any particular competitive swimwear series. Nike and Adidas more likely to stay strong in common swimwear market and tend to lose out in high-end competitive swimwear market.
Issue for Competitors
1) Some categories of customers whose needs are not being met.
2) Markets is already saturated, avoid costly mistakes.
3) Observing the actions of competitors and market.
Key Issues
Opportunities created by learning to observe competitors carefully.
Objective
To always know what competitors is planning or get first hand warning on any market share shifting in order to maintain as a strong leader in swimwear industry.
Reasons for being key issue and proposed strategies
Companies
Framework of Porter’s Five Forces, give overall view’s on industry analysis for Speedo UK competitive market. Threat of new entrants is at minimum and even if there are, they are less likely to form threats to Speedo. As Threat of substitutes, hardly any form of substitute can be consider for swimwear. For both bargaining power of suppliers and buyers, Speedo is a big and strong brand in the market but must aware of customers’ price sensitivity and affected by low switching cost. The real threats will be from its existing market competitor rivals like Arena, TYR, Nike and Adidas.
Strong Rivalry in Competitive Markets
Arena and TYR swimwear is strongest rival among competitive markets with both having their own history and technology swim suits (refer to appendix). Price difference is low but Speedo still emerge as top. With such close rivalry, maintaining or gaining markets share will be tightly link with company’s performance in all areas like technology, marketing strategy and analysing of trend changes.
Other Rivalry
Nike and Adidas are not really excel in producing swimwear but their strong brand names affect buyer’s behaviour. Nike however, do have a competitive suit name Liftsuit series for professional users while Adidas doesn’t have any particular competitive swimwear series. Nike and Adidas more likely to stay strong in common swimwear market and tend to lose out in high-end competitive swimwear market.
Issue for Competitors
1) Some categories of customers whose needs are not being met.
2) Markets is already saturated, avoid costly mistakes.
3) Observing the actions of competitors and market.
Key Issues
Opportunities created by learning to observe competitors carefully.
Objective
To always know what competitors is planning or get first hand warning on any market share shifting in order to maintain as a strong leader in swimwear industry.
Reasons for being key issue and proposed strategies
Companies