Pp: Chapter 13

Front 1

What background about the organization can be useful?

Back 1

Where are we? (what is our mission? What are our objectives?)
What does our product portfolio look like? (BCG Matrix)
What is our current position? (SWOT analysis)
What is the growth strategy we are following? (product development? Market development?)
What marketing strategy are we using?

Front 2

Describe step 1 in analyzing competitors: identifying competitors.

Back 2

Q1: what industry are we operating in?
Q2: who are my competitors? (direct and indirect)
Q3: industry and market definitions of competition
Q4: where are the boundaries to the industry?
Q5: restrictions in B2B markets

Front 3

Describe step 2 in analyzing competitors: assessing competitors.

Back 3

Specifically investigate:
Competitor objectives
Competitor strategies
Assessing their strengths and weaknesses
Estimating their reactions

Front 4

Describe step 3 in analyzing competitors: which competitors to attack or avoid.

Back 4

Selecting which competitors to attack and avoid
Do you have anything to gain from attacking a weak competitor?
Rather a strong competitor in their weak spot
Customer value analysis can point out possibilities – trying to find the sweet spot
“good” or bad competitors (good play by the rules)

Front 5

Competitive strategies.

Back 5

In Porter’s classical competitive strategies framework, companies can follow four strategies – three winning and one losing one
Overall cost leadership (e.g. Wal-Mart)
Differentiation
Focus
Middle-of-the roader/Stuck in the middle: companies that try to be good on many strategic counts, but end up being not very good at anything

Treacy and Weirsema offer a more customer-centred classification of competitive marketing strategies: Deliver superior value to their customers through any of the following strategies:
Operational excellence: leading its industry in price and convenience (e.g. Ryanair and Skoda)
Customer intimacy: providing superior value by precisely segmenting its markets and tailoring its products to match exactly the needs of targeted customers (e.g. Lexus and Ritz-Carlton hotels)
Product leadership: continuously offering leading-edge products and services (e.g. Apple and Audi)

Front 6

List four competitive positions.

Back 6

Market leader: the firm in an industry with the largest market share
Market challenger: a runner-up firm that is fighting hard to increase its market share in an industry
Market follower: a runner-up firm that wants to hold its share in an industry without rocking the boat
Market nicher: a firm that serves small segments that the other firms in an industry overlook or ignore

Front 7

What is the sweet spot?

Back 7

It is where the company meets the customers' needs in a way the rivals can't.

Front 8

Describe the hypothetical market structure.

Back 8

1. Market leader (40%)
2. Market challengers (30%)
3. Market followers (20%)
4. Market nichers (10%)

Front 9

Explain the strategy for a market leader.

Back 9

Expand toral market
Protect market share
Expand market share

Front 10

Explain the strategy for a market challenger.

Back 10

Full frontal attack
Indirect attack

Front 11

Explain the strategy for a market follower.

Back 11

Follow closely
Follow at a distance

Front 12

Explain the strategy for a market nicher.

Back 12

By customer, market, quality-price, service
Multiple niching