Você está na página 1de 3

Assignment 4: COMPETITION ANALYSIS

Introduction: This is an assignment of Competition analysis, competition


analysis is a critical part of your company marketing plan. With this
evaluation, you can establish what makes your product or service unique--
and therefore what attributes you play up in order to attract your target
market.
Name of the Participant:
1. VEMULA SAIBABA

Detail Introduction:

Evaluate your competitors by placing them in strategic groups according to


how directly they compete for a share of the customer's dollar. For each
competitor or strategic group, list their product or service, its profitability,
growth pattern, marketing objectives and assumptions, current and past
strategies, organizational and cost structure, strengths and weaknesses, and
size (in sales) of the competitor's business. Answer questions such as:

 Who are your competitors?


 What products or services do they sell?
 What is each competitor's market share?
 What are their past strategies?
 What are their current strategies?
 What type of media are used to market their products or services?
 How many hours per week do they purchase to advertise through the
media used in this market?
 What are each competitor's strengths and weaknesses?
 What potential threats do your competitors pose?
 What potential opportunities do they make available for you?

Plan of Action:

The Competitive Analysis section of your business plan is devoted to


analyzing your competition--both your current competition and potential
competitors who might enter your market.

Every business has competition. Understanding the strengths and


weaknesses of your competition--or potential competition--is critical to
making sure your business survives and grows. While you don't need to
hire a private detective, you do need to thoroughly assess your competition
on a regular basis even if you only plan to run a small business.

In fact, small businesses can be especially vulnerable to competition,


especially when new companies enter a marketplace.

Competitive analysis can be incredibly complicated and time-consuming...


but it doesn't have to be. Here is a simple process you can follow to
identify, analyze, and determine the strengths and weaknesses of your
competition.The following things has to be analysed :

1. Profile Current Competitors

2. Identify Potential Competitors

3. Primary Competitors

4. Secondary Competitors

5. Opportunities

6. Risks

Action Done by me :

As a part of my Assignment I have Compared Competition


analysis between two companies & I started implementing the same
competition strategies for my start up…I have analysed all the above
mentioned things and finally succeeded in implementing the ideas.

The Final Outcomed through this Assignment are:

I clearly understood who are my competitiors

Also understood the Product benefits & trying to focus more on benefits
Learnings :
Our approach to competitive analysis works because it is built around a solid definition of what a
customer need is. We have discovered that customers consider between 50 and 150 metrics
when assessing how well a product or service enables them to successfully execute any job.
These metrics (or desired outcomes) are the customer’s needs and the power behind
our innovation process, Outcome-Driven Innovation (ODI).

To conduct an effective competitive analysis, we first uncover all 50 to 150 of the customers’
needs. Then we use quantitative research methods that reveal just how satisfied the customers
are with their ability to address each of the metrics when using company and competitor’s
products. Using this approach, we can see just where the products (and the competitors’
products) are weak and strong at helping customers get the job done, and where to invest to help
customers get the job done better. This is the ultimate in competitive analysis because the
insights come directly from the customers, and the assessment is based on the actionable
metrics the customers use to measure value.