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How do marketers identify and analyse competition?

Identifying Competitors

Start with

Category membershipDetermining products or its substitutes with which a brand competes

Vs

Vs

Simple??

Marketers“ Competitors are companies that

satisfy same customer need”

Market Myopia

Coca-Cola focused on soft drink business and missed seeing the market for

juice bars and Coffee bars

Stop defining competition in traditional category

Be aware of Emerging competitorswith new technologies

Mapping the buyer’s stepsin obtaining and using the product

Key to profile Direct and Indirect competitors

Analysing competitors

Know about your competitor’s real and perceived

Strengths and Weaknesses

Identify your competitors

Strategies

Most importantly find out their

objectives

Recap

Identifying competitors Category Membership Market Myopia Analysing Competitors

Created by

A.KruthikaIndian School of Mines, Dhanbad

During an internship with Prof. Sameer Mathur, IIM Lucknow.www.IIMInternship.com