How do Marketers Identify and Analyse Competition

Determining a competitive frame of reference:

It defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis.

Identifying Competitors:

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PepsiCo knows Coca-Cola’s Dasani is a major bottled-water competitor for its Aquafina brand.

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Petsmart.com knows Petco.com is a major online retailer competitor for pet food and supplies.

Citigroup knows Bank of America is a major banking competitor.

New Technologies:A company is more likely to be hurt by emerging competitors or new technologies than by a current competitors.

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Sensodyne identified the positioning gap for a toothpaste appropriate for sensitive teeth in a market dominated by Colgate-Palmolive.

Analyzing Competitors:

A company needs to gather information about each competitor’s real and perceived strengths and weaknesses.

Find answers to the questions:

What is each competitor seeking in the marketplace?

What drives each competitor’s marketplace?

Credits

Photos:www.google.com

Content:Marketing ManagementA South Asian Perspective

- Philip Kotler

Presentation created by - Rashmi Choudhary, IIT Bombay

During an internship by Prof. Sameer Mathur, IIM Lucknow http://www.iiminternship.com