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1 Pertemuan Kesepuluh Industry and Competition Analysis.

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1 1 Pertemuan Kesepuluh Industry and Competition Analysis

2 2 Critical Success Factors That differentiate between the success and failure of firms within an industry differ from industry to industry. These factors often are concerned with one or more of the elements in the marketing mix Assessing the fit between an industry’s critical success factors and the presence of those factors in a firm is a good way to assess whether an industry is attractive to that particular firm.

3 3 The Adoption Process Involves the attitudinal changes experienced by individuals from the time they first hear about a new product, service, or idea until they adopt it. The five stages in the adoption process: –Awareness, the person is only aware of the existence of the new product –Interest, the individual becomes interested in the new product –Evaluation –Trial –Adoption, the individual not only continues to use the new product, but also adopts it in lieu of substitutes.

4 4 Analyzing Competition Define industry structure and characteristics Identify and describe key competitors Evaluate key competitors Anticipate actions by competitors Identify new competitors

5 5 Information Needed for Describing Key Competitors Business scope and objectives Management experience, capabilities and weakness Market position and trends Market targets and customer base Marketing program Financial, technical and operating capabilities Key competitive advantages

6 6 Areas of Evaluation of Competitor Strengths and Weaknesses Sales and market position in segments served Level of customer satisfaction Business approach Financial performance Financial resources and leverage Cost position relative to key competitors Relative product quality Innovativeness Product portfolio Marketing strategy Management capabilities Methods of distribution

7 7 Conclusion After determining industry boundaries and structure, information on various aspects of competitors is collected and examined. The key competitor analysis should include both actual and potential competitors that management considers important. Competitor analysis includes: (1) describing the company, (2) evaluating the competitor, (3) anticipating the future actions of competitors.

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