Lecture Principles of Marketing - Chapter 18: Creating competitive advantage include all of the following contents: Competitor analysis, competitive strategies, balancing customer and competitor orientations. Inviting you refer. | Chapter Eighteen Creating Competitive Advantage 1 Creating Competitive Advantage Competitor Analysis Competitive Strategies Balancing Customer and Competitor Orientations Topic Outline 2 Competitive advantages require delivering more value and satisfaction to target consumers than competitors do Competitive marketing strategies are how companies analyze their competitors and develop value-based strategies for profitable customer relationships Today’s Companies 3 Competitor analysis is the process of identifying, assessing, and selecting key competitors Competitor Analysis 4 Competitor Analysis Competitors can include: All firms making the same product or class of products All firms making products that supply the same service All firms competing for the same consumer dollars Identifying Competitors 5 Competitor Analysis Assessing Competitors Note to Instructor A strategic group is a group of firms in an industry following the same or a similar strategy in a given target market. For . | Chapter Eighteen Creating Competitive Advantage 1 Creating Competitive Advantage Competitor Analysis Competitive Strategies Balancing Customer and Competitor Orientations Topic Outline 2 Competitive advantages require delivering more value and satisfaction to target consumers than competitors do Competitive marketing strategies are how companies analyze their competitors and develop value-based strategies for profitable customer relationships Today’s Companies 3 Competitor analysis is the process of identifying, assessing, and selecting key competitors Competitor Analysis 4 Competitor Analysis Competitors can include: All firms making the same product or class of products All firms making products that supply the same service All firms competing for the same consumer dollars Identifying Competitors 5 Competitor Analysis Assessing Competitors Note to Instructor A strategic group is a group of firms in an industry following the same or a similar strategy in a given target market. For example, in the major appliance industry, General Electric, and Whirlpool belong to the same strategic group. Each produces a full line of medium-price appliances supported by good service. In contrast, Sub-Zero and Viking belong to a different strategic group. They produce a narrower line of higher-quality appliances, offer a higher level of service, and charge a premium price. 6 Competitor Analysis Assessing Competitors 7 Competitor Analysis Customer value analysis determines the benefits that target customers’ value and how customers rate the relative value of various competitors’ offers Identification of major attributes that customers value and the importance of these values Assessment of the company’s and competitors’ performance on the valued attributes Selecting Competitors to Attack and Avoid Note to Instructor 8 Competitor Analysis Strong or weak competitors Close or distant competitors Good or bad competitors Selecting Competitors to Attack and Avoid Note to Instructor Weak .
