CompetitorsDMUProcess to acquire a customer

Photo by Mariano Hernández (CC BY-NC-ND 2.0)

By choosing our competition, we make decisions

Who do we want to compete with?

Why? Where are they strong? Weak?

Why will some set of customers choose us?

The Better you understand your competition, the more likely you will

succeed

What is OUR core competency?

Who are our competitors? A, B, C.

What market share do A, B C have?

Name 5 customers of A, B, C

What do they like about A, B, C?

What do they dislike about A, B, C?

Exercise

1. Write down the few top competitors for your new venture

2. How do you group them?

3. Who worries you the most and why?

Walk in Your Target Customer’s Shoes

Why not the alternative of doing nothing?

What are their priority of needs?

Why change and what is important if they do?

Photo by Alfredo Romeo

Several approaches

To analyze your competitors A, B, C …:

Competitors’ matrix

Competitive Positioning Chart

To understand the industry:

Strategy Canvas

Competitors’ matrix

Describe the competitors

Number, size and market share

Product and company position

Technology

Price

…

Make a table summarizing.

Competitive Positioning Chart

Slide removed due to copyright restrictions. Aulet, Bill (2013) Disciplined Entrepreneurship: 24 Steps to a

Successful Startup. Ed Wiley. Page 135, figure 11.1

Strategy Canvas (US wine industry, 2001)

Price Use of

enological

terminology

Above-the-line

marketing

Aging quality Vineyard

prestige and

legacy

Wine

complexity

Wine range

Premium wines

Budget wines

Four actions framework

Eliminate Raise

Use of enological terminology

Aging quality

ATL marketing

Price (vs budget wines)

Retail store involvement

Reduce Create

Wine complexity

Wine range

Vineyard prestige

Easy drinking

Ease of selection

Fun and adventure

Image of Yellow Tail Strategy Canvas removed due to copyright restrictions.

DMU

Photo by Dave Traynor (CC BY-NC-ND 2.0)

Primary roles:

Champion

End User

Primary economic buyer

Additional roles:

Influencers

Person with Veto power

Purchasing department

DMP

Photo by Paulo (CC BY-NC-ND 2.0)