18 – Marketing Competitive advantage – an advantage over competitor gained by offering consumers greater value than competitors do. * Customers will see competitive advantages as customer advantages Competitive Marketing Strategies – Strategies that strongly position the company against competitors and give the company the strongest possible strategic advantage. Competitor Analysis – The process of identifying key competitors; assessing their objectives‚ strategies‚ strengths and weaknesses
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famous “SWOT Analysis”. These 5 forces are the following: 1. Competition in the industry 2. Potential of new entrants into industry 3. Power of suppliers 4. Power of customers 5. Threat of substitute products 1. The more competitors offering similar products or services‚ the less power a firm has. This has to do with the fact that suppliers and buyers will go elsewhere if you don’t propose a good deal. However‚ if a firm is good in what it does and no other competitor can come very
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(CTO) 5.Competitive Forces: Collection & evaluation of data on competitors is essential for successful strategy formulation Key Questions Concerning Competitors: Their strengths Our product/service positioning Their weaknesses Entry and exit of firms in the industry Their objectives and strategies Key factors for our current position in industry Their responses to external variables Sales/profit ranking of competitors over time Their vulnerability to our alternative strategies Nature
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■ The Brita Products Company ◎ SWOT Analysis Strengths Market leader in pitcher filter category‚ strong brand image Large retail distribution system‚ presence in multiple channels (“Class to Mass”) Loyal customer base‚ repeated purchasing replacement filters Strong advertising and brand image‚ waterfall equals good‚ clean taste Weakness Slowing growth in pitcher market Lack of product diversity Change in customer preferences‚ deficient attention paid to health concerns
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discusses the analysis Hubbard Foods as a company competing in cereal industry. The main focus of the report is analyzing Hubbard’s operating environment‚ evaluating strategic issues or challenges and recommending strategy to overcome company’s current issues. Firstly‚ Hubbard’s operating environment is categorized into external and internal environments. This includes analyzing Hubbard’s strengths‚ weaknesses‚ opportunities and threats in running and managing the business. PEST+ analysis and Porter’s
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Analysis of Kudler’s Gourmet Foods Jerry Gregory ECO/365 November‚ 4‚ 2012 Thomas Helton Analysis of Kudler’s Gourmet Foods In order to maintain and continue keep moving any company forward there are three key things‚ such as analyzing‚ planning‚ and making the necessary changes
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Porters Five Forces – Competitor Analysis Michael Porter’s five forces model is used to explore the competitive environment in which a product or company operates. In this case it will explore the competitive environment of Dell and the Tab Streak. The Five Forces Analysis looks at five key areas: | New Entrants | | Suppliers | Industry competitors and extent of rivalry | Buyers | | Substitutes | | Threat of New Entrants The computer industry is a highly competitive one with
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company‚ give an elevator pitch g. For your proposed company‚ give an elevator pitch 2. Industry Analysis a. Define industry b. Describe Porters 5 forces model c. What are the goals of a 5 forces analysis? d. Assess the 5 forces for a given industry (e.g.‚ automotive) e. Describe a PEST analysis f. Assess the 4 areas in a PEST analysis for a given industry (e.g.‚ automotive) 3. Market Analysis a. Definition – what is it and what does it include? b. Define Target market c. For a well-known
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project a detailed marketing plan of the firm. The scope of this plan will be limited to the following: • Concept Development Process • Company Description • Strategic Analysis • Situation Analysis • Market Product Focus • Marketing Mix • Financial Analysis • Organization • Implementation
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Strategy Achieve Competitive Advantage Through Focus Focus Underlies the Search for Competitive Advantage • Intensifying competition makes it important to differentiate products • In mature markets‚ only way to grow may be to take share from competitors • Brand positioning helps create awareness‚ generate interest and desire among potential customers and increase adoption of service products • Emphasize competitive advantage on those attributes that will be valued by customers in target segment(s)
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