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COMPETITION ANALYSIS : BEYOND DESCRIPTION MICHAEL W. PICZAK JANUARY 2004.

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Presentation on theme: "COMPETITION ANALYSIS : BEYOND DESCRIPTION MICHAEL W. PICZAK JANUARY 2004."— Presentation transcript:

1 COMPETITION ANALYSIS : BEYOND DESCRIPTION MICHAEL W. PICZAK JANUARY 2004

2 HOW WE DO AMONG THE WORST THINGS DONE IN A BUSINESS PLAN AMONG THE WORST THINGS DONE IN A BUSINESS PLAN LONG ON DESCRIPTION LONG ON DESCRIPTION LEAN ON ANALYSIS LEAN ON ANALYSIS NO WRITE UP/DISCUSSION NO WRITE UP/DISCUSSION

3 METHODS WEB VISITS WEB VISITS FIELD VISITS/SHOPPING THE BAD GUYS FIELD VISITS/SHOPPING THE BAD GUYS NEWSPAPER ACCOUNTS NEWSPAPER ACCOUNTS USING YOUR SURVEY TO COMPARE COMPETITION TO YOU USING YOUR SURVEY TO COMPARE COMPETITION TO YOU CHECK OUT CORPORATE IMAGE MATERIALS CHECK OUT CORPORATE IMAGE MATERIALS

4 YOUR BASIC PREMISE SURVIVAL OF THE JUNGLE APPLIES SURVIVAL OF THE JUNGLE APPLIES THE COMPETITION WILL DO ANYTHING TO SUCCEED THE COMPETITION WILL DO ANYTHING TO SUCCEED THERE IS ACTION AND REACTION THERE IS ACTION AND REACTION NOONE REALLY CARES EXCEPT YOU AND YOUR MOTHER NOONE REALLY CARES EXCEPT YOU AND YOUR MOTHER

5 NICE GUY…

6 CAPTURING DESCRIPTION IN A TABLE IN A TABLE THEM THEM STRENGTHS STRENGTHS WEAKNESSES WEAKNESSES YOU YOU NARRATIVE NARRATIVE

7 CAPTURING ANALYSIS ANALYSIS IS A BREAKING DOWN PROCESS ANALYSIS IS A BREAKING DOWN PROCESS INVOLVES COMPARISONS WITH WHAT IS RELATIVE TO WHAT COULD BE INVOLVES COMPARISONS WITH WHAT IS RELATIVE TO WHAT COULD BE LOOK FOR SIMILARITIES AND DIFFERENCES LOOK FOR SIMILARITIES AND DIFFERENCES THINK OF A FOOTBALL COACH ANALYZING A RECENT LOSS (QUARTER BY QUARTER, CATEGORY BY CATEGORY, MINUTE BY MINUTE, ETC.) THINK OF A FOOTBALL COACH ANALYZING A RECENT LOSS (QUARTER BY QUARTER, CATEGORY BY CATEGORY, MINUTE BY MINUTE, ETC.)

8 WHAT IT LOOKS LIKE COMPETITION ANALYSIS The purpose of this analysis is to assess the strengths and weaknesses of competitors as defined by Your Fabulous Restaurant. Description of competitors will be followed by analysis looking for key success factors, competitive advantage and identification of distinctive competencies.

9 THE CENTRAL EXHIBIT I COMPETITORSTRENGTHSWEAKNESSES ABC Fine Dining 662 West Alameda Drive Burbank, CA Established Good reputation parking limited dirty service questionable XYZ Diner 1009 West Hollywood Avenue Santa Monica, CA Good value Good prices parking service spotty MNO Foodstuffs 123 North Westwood Drive Brentwood, CA broad menu value pricing go the extra mile limited hours tries to be everything to everyone service poor You Kill It, We Cook it Grill 111 North Lincoln Highway La Jolla, CA tasty food customer participates part of meal is show appeals to select market service uneven/poor must bring own raw stock Your Fabulous Restaurant 111 In the Heart of Town Lane Pasadena, CA 25 parking spaces creative cuisine presentation of meal superior service worlds best bourbon baked wings unknown in community relatively small floor space access from street blocked

10 THE CENTRAL EXHIBIT II

11 THE CENTRAL EXHIBIT III

12 THE CENTRAL EXHIBIT IV

13 ENSURING THE READER SEES WHAT THEY ARE SUPPOSED TO SEE Narrative/Discussion The purpose of this section is to highlight key features of the various competitors operations with a view to identifying key success factors, possible sources of competitive analysis and distinctive competencies.

14 FINDING COMPETITIVE ADVANTAGE 5 SWEEPS THROUGH THE TABLE 5 SWEEPS THROUGH THE TABLE LOOKING FOR COMMONALITIES ACROSS ALL COMPETITORS IN STRENGTHS = KSFs or Winning Formula or Conventional Wisdom of How IT is done LOOKING FOR COMMONALITIES ACROSS ALL COMPETITORS IN STRENGTHS = KSFs or Winning Formula or Conventional Wisdom of How IT is done LOOKING FOR DIFFERENCES BETWEEN COMPETITORS STRENGTHS AND YOUR STRENGTHS = CA 1 LOOKING FOR DIFFERENCES BETWEEN COMPETITORS STRENGTHS AND YOUR STRENGTHS = CA 1 LOOKING FOR DIFFERENCES BETWEEN COMPETITORS WEAKNESSES AND YOUR WEAKNESSES = CA 2 LOOKING FOR DIFFERENCES BETWEEN COMPETITORS WEAKNESSES AND YOUR WEAKNESSES = CA 2 LOOKING FOR DIFFERENCES BETWEEN COMPETITORS WEAKNESSES AND YOUR STRENGTHS = CA 3 LOOKING FOR DIFFERENCES BETWEEN COMPETITORS WEAKNESSES AND YOUR STRENGTHS = CA 3 FINDING SOMETHING THAT YOU DO THAT NOONE ELSE DOES = DISTINCTIVE COMPETENCE FINDING SOMETHING THAT YOU DO THAT NOONE ELSE DOES = DISTINCTIVE COMPETENCE

15 WHOSE SIGNATURE IS ALL OVER THIS?

16 NECESSARY COMPONENTS OF A BEER COMMERCIAL…

17 KEY SUCCESS FACTORS ACCEPTED PRACTICES WITHIN THE INDUSTRY THAT REPRESENT MINIMUM THINGS THAT EVERYONE DOES ACCEPTED PRACTICES WITHIN THE INDUSTRY THAT REPRESENT MINIMUM THINGS THAT EVERYONE DOES STRAYING FROM THESE IS DONE AT YOUR PERIL OR AS PART OF YOUR GRAND PLAN TO BE DIFFERENT STRAYING FROM THESE IS DONE AT YOUR PERIL OR AS PART OF YOUR GRAND PLAN TO BE DIFFERENT E.G. E.G. NOT PROVIDING PARKING NOT PROVIDING PARKING NOT GIVING T SHIRTS/MOMENTO TO RUNNING RACE PARTICIPANTS NOT GIVING T SHIRTS/MOMENTO TO RUNNING RACE PARTICIPANTS NOT OFFERING THE USE OF CREDIT CARDS NOT OFFERING THE USE OF CREDIT CARDS NO MEALS ON AIRLINES NO MEALS ON AIRLINES NO TECHNICAL SUPPORT FOR COMPUTER PURCHASES NO TECHNICAL SUPPORT FOR COMPUTER PURCHASES NO ASSIGNED SEATING ON PLANES NO ASSIGNED SEATING ON PLANES

18 COMPETITIVE ADVANTAGES PRICE PRICE SERVICE SERVICE QUALITY QUALITY VARIETY VARIETY FLEXIBILITY FLEXIBILITY CUSTOMIZATION CUSTOMIZATION SPEED SPEED BREADTH OF PRODUCT LINE BREADTH OF PRODUCT LINE

19 DISTINCTIVE COMPETENCIES THINGS THAT YOU DO BETTER THAN ANYONE THINGS THAT YOU DO BETTER THAN ANYONE THINGS THAT YOU COULD BECOME KNOWN FOR IN THE INDUSTRY THINGS THAT YOU COULD BECOME KNOWN FOR IN THE INDUSTRY E.G. E.G. SIGNATURE MEAL (HONEYS WINGS) SIGNATURE MEAL (HONEYS WINGS) SIGNATURE HOLE ON A GOLF COURSE (PAR 3 7 TH AT PEBBLE BEACH) SIGNATURE HOLE ON A GOLF COURSE (PAR 3 7 TH AT PEBBLE BEACH) ON TIME DEPARTURES OF PLANES (SOUTHWEST AIRLINES) ON TIME DEPARTURES OF PLANES (SOUTHWEST AIRLINES) SUPERIOR CUSTOMER SERVICE (4 SEASONS HOTEL) SUPERIOR CUSTOMER SERVICE (4 SEASONS HOTEL) 24/7 SERVICE (IBM) 24/7 SERVICE (IBM) YOU COME TO THEM WHEN THEY NEED YOU THE MOST ( ) YOU COME TO THEM WHEN THEY NEED YOU THE MOST ( ) YOU NEVER LET THEM DOWN ( ) YOU NEVER LET THEM DOWN ( ) ANIMATION (PIXAR STUDIOS) ANIMATION (PIXAR STUDIOS) MOVIE SOUND (THX LABS) MOVIE SOUND (THX LABS)

20 ENTIRE SECTION IS 3-4 PAGES MAXIMUM DOUBLE SPACED 3-4 PAGES MAXIMUM DOUBLE SPACED

21 COMPETITION ANALYSIS : BEYOND DESCRIPTION MICHAEL W. PICZAK JULY 2006


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