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Customer & Competitor Analysis MKTG 241 Due: Thursday, Feb. 21, 2012.

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Presentation on theme: "Customer & Competitor Analysis MKTG 241 Due: Thursday, Feb. 21, 2012."— Presentation transcript:

1 Customer & Competitor Analysis MKTG 241 Due: Thursday, Feb. 21, 2012

2 Customer Analysis: Preliminary Identification of Market Market definition ◦Who will be your likely potential customers ◦How many are there? ◦Trends in customer demographics? ◦Geographic dispersion Segmentation: ◦Who are likely to be your biggest customers? ◦The most profitable customers? ◦The most attractive potential customers? ◦ Are there any logical groups based on needs, motivations or characteristics? Segmentation Approach: How should be the market be segmented into groups, with relatively homogeneous needs, that would require a unique marketing strategy? ◦Benefits sought ◦Usage level ◦Application ◦Organizational type or size ◦Geographic location ◦Customer loyalty ◦Price Sensitivity

3 Competitor Analysis Competitor Definition: ◦What types of business will be your competitors? Which are direct and which indirect? ◦Where are they likely to be located? ◦Define the business of your competitors, including industry ◦What are the sizes our your competitors (sales or number of employees) Competitor Strategy: How are your competitors choosing to compete (price, service, technology, product quality, etc?) Barriers to Entry & Exit: How easy is it to enter or exit the market? Are there barriers to entry or exit? Significant capital investments? Top Competitors: Who are your top 5 competitors? For each competitor identify the following? ◦Size (number of employees or sales revenue), profitability. ◦Strategy to compete in the market ◦What are their strengths and weaknesses ◦Develop a competitive strength grid and identify opportunities for your business Analysis of competitive environment and implications for your business

4 Customer Analysis What is the customer’s motivation for buying your product or service? ◦What elements of the product or service are valued most? ◦What are the customer’s objectives? What are they really buying? ◦How do segments differ in their motivation priorities? ◦Do these needs represent leverage points for competitors? What are the customers unmet needs? ◦Why are some customers dissatisfied? ◦What are the severity and incidence of customer problems? ◦What are the unmet needs that customers can identify and those of which they are unaware? ◦Do the unmet needs represent a leverage point for competitors? Summary and implications for your business

5 Competitive Analysis Grid (SCORE) Factor Own Strength Weakness Comp A Comp B Comp C Import- ance to Customer Products Price Quality Selection Service Reliability Stability Expertise Reputatio n Location Appear


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