Other approaches[ edit ] The choice of competitive strategy often depends on a variety of factors including:
Media scanning[ edit ] Scanning competitor's ads can reveal much about what that competitor believes about marketing and their target market. It might also indicate a new pricing strategy such as penetrationprice discriminationprice skimmingproduct bundlingjoint product pricing, discounts, or loss leaders.
It may also indicate a new promotion strategy such as push, pull, balanced, short term sales generation, long term image creation, informational, comparative, affective, reminder, new creative objectives, new unique selling propositionnew creative concepts, appeals, tone, and themes, or a new advertising agency.
It might also indicate a new distribution strategynew distribution partners, more extensive distribution, more intensive distribution, a change in geographical focus, or exclusive distribution. Similar techniques can be used by observing a competitor's search engine optimization targets and practices.
Other metrics allow for detection of a competitor's success. A competitor's media strategy reveals budget allocation, segmentation and targeting strategyand selectivity and focus.
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. Other sources of corporate intelligence include trade shows, patent filings, mutual customers, annual reports, and trade associations.
Some firms hire competitor intelligence professionals to obtain this information. The Society of Competitive Intelligence Professionals maintains a listing of individuals who provide these services.
The most common sources of new competitors are: There are high profit margins in the industry There is unmet demand insufficient supply in the industry There are no major barriers to entry There is future growth potential Competitive rivalry is not intense Gaining a competitive advantage over existing firms is feasible Dissatisfaction with the existing suppliers.A marketing competitor analysis is a critical part of your own marketing strategy.
By doing the analysis, you can formulate how to run your business. This can be seen as a reactive approach. That is to say that you are basing your strategy as a reaction to how your competitor will run his company.
To determine what marketing strategy would work best for a company, market research analysts must assess all available information.
Detail oriented. Market research analysts must be detail oriented because they often do precise data urbanagricultureinitiative.com experience in related occupation: None. Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Marketing Management Case Analysis Essay.
Marketing Management Case Analysis Subway® Sandwich Shops Abstract Subway® Sandwich Shops was founded in , and has been franchised into the hearts and stomachs of families all around the world. Marketing Case Analysis.
management, etc.). While you may choose to address these problems in a peripheral fashion, they should not form the basis for the majority of your analysis in a Marketing class. Your report should address marketing problems and their solution.
The major exceptions to this request will occur in the MBA program where.
Chapter 1. Foundations of Strategic Marketing Management In this chapter, you will learn about 1. Defining the Organization’s Business, Mission, and.