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Dealing with competition

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Information about Dealing with competition
Education

Published on November 16, 2008

Author: mbaguy

Source: authorstream.com

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Dealing with Competition: Dealing with Competition 9 Marketing Management A South Asian Perspective, 13 th ed Chapter Questions: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 2 Chapter Questions How do marketers identify primary competitors? How should we analyze competitors’ strategies, objectives, strengths, and weaknesses? How can market leaders expand the total market and defend market share? Chapter Questions (cont.): Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 3 Chapter Questions (cont.) How should market challengers attack market leaders? How can market followers or nichers compete effectively? Mobile service providers compete with each other through innovative marketing ideas : Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 4 Mobile service providers compete with each other through innovative marketing ideas Figure 9.1 Five Forces Determining Segment Structural Attractiveness: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 5 Figure 9.1 Five Forces Determining Segment Structural Attractiveness Identifying Competitors: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 6 Identifying Competitors Industry Concept of Competition: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 7 Industry Concept of Competition Number of sellers and degree of differentiation Entry, mobility, and exit barriers Cost structure Degree of vertical integration Degree of globalization Figure 9.2 Strategic Groups : Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 8 Figure 9.2 Strategic Groups Figure 9.4 A Competitor’s Expansion Plans: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 9 Figure 9.4 A Competitor’s Expansion Plans Table 9.1 Customer Ratings of Competitors on Key Success Factors: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 10 Table 9.1 Customer Ratings of Competitors on Key Success Factors Strengths and Weaknesses: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 11 Strengths and Weaknesses Share of market Share of mind Share of heart Steps in Benchmarking: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 12 Steps in Benchmarking Determine which functions or processes to benchmark Identify the key performance variables to measure Identify the best-in-class companies Measure the performance of best-in-class companies Steps in Benchmarking (cont.): Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 13 Steps in Benchmarking (cont.) Measure the company’s performance Specify programs and actions to close the gap Implement and monitor results Fake brands in Rural Markets : Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 14 Fake brands in Rural Markets Look-alike Spell-alike Duplicates Figure 9.5 Hypothetical Market Structure: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 15 Figure 9.5 Hypothetical Market Structure 10% Market Nichers 20% Market Follower 30% Market Challenger 40% Market Leader Gap Tried to Appeal to Too Broad a Market : Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 16 Gap Tried to Appeal to Too Broad a Market Expanding the Total Market: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 17 Expanding the Total Market New customers More usage Figure 9.6 Six Types of Defense Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 18 Figure 9.6 Six Types of Defense Strategies Figure 9.7 Optimal Market Share: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 19 Figure 9.7 Optimal Market Share Factors Relevant to Pursuing Increased Market Share: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 20 Factors Relevant to Pursuing Increased Market Share Possibility of provoking antitrust action Economic cost Pursuing the wrong marketing-mix strategy The effect of increased market share on actual and perceived quality Other Competitive Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 21 Other Competitive Strategies Market Challengers Market Nichers Market Followers Market Challenger Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 22 Market Challenger Strategies Define the strategic objective and opponents Choose a general attack strategy Choose a specific attack strategy In Sri Lanka, Tapal has challenged Unilever to emerge as a serious competitor : Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 23 In Sri Lanka, Tapal has challenged Unilever to emerge as a serious competitor General Attack Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 24 General Attack Strategies Frontal Attack Encirclement Attack Bypass Attack Flank Attack Guerrilla Warfare Pepsi buys Gatorade in a Bypass Strategy: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 25 Pepsi buys Gatorade in a Bypass Strategy Specific Attack Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 26 Specific Attack Strategies Price discounts Lower-priced goods Value-priced goods Prestige goods Product proliferation Product innovation Improved services Distribution innovation Manufacturing-cost reduction Intensive advertising promotion Market Follower Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 27 Market Follower Strategies Counterfeiter Cloner Imitator Adapter Market Nicher Strategies: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 28 Market Nicher Strategies Niche Specialist Roles: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 29 Niche Specialist Roles End-User Specialist Vertical-Level Specialist Customer-Size Specialist Specific-Customer Specialist Geographic Specialist Product-Line Specialist Job-Shop Specialist Quality-Price Specialist Service-Specialist Channel Specialist Balancing Orientations: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 30 Balancing Orientations Competitor- Centered Customer- Centered Marketing Debate: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 31 Marketing Debate How do you attack a category leader? Take a position: The best way to challenge a leader is to attack its strengths. or 2. The best way to attack a leader is to avoid a head-on assault and to adopt a flanking strategy. Marketing Discussion: Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 9- 32 Marketing Discussion Pick an industry. Classify firms according to the four different roles they might play. How would you characterize the nature of competition? Do the firms follow the principles described in this chapter?

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