How do marketers identify and analyse competition

Identifying and

Analysing Competitors

Identify

Determine Category Membership

The products or sets of product with which a brand competes and which function as close substitutes.

Who are Competitors?

Marketers classify industries based on

1) No. of Sellers2) Degree of product differentiation3)Presence or absence of entry, mobility and exit barriers4)Cost structure5)Degree of vertical Integration6)Degree of globalization

Who are Competitors?

Using Marketing approach,

Competitors are companies that satisfy the same customer need.

The Plot Thickens here

Analyse

Conduct a SWOT analysis that includes competitive analysis

To identify main competitors and their strategies.

Now, Ask yourself:

What is each competitor seeking in the market place?

What drives each competitor’s behaviour?

Based on the analysis:

Marketers define the competitive frame of reference to guidepositioning.

In dynamic categories,Multiple framesof reference may arise.

Created by Sadhique K Kunhahamed, IIITD&M-K, during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com

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