.Chapter Questions (cont.) • How do marketers identify primary competitors? • How should we analyze competitors’ strategies, objectives, strengths, and weaknesses? • How can market | Dealing with Competition Marketing Management, 13th ed 11 Chapter Questions (cont.) How do marketers identify primary competitors? How should we analyze competitors’ strategies, objectives, strengths, and weaknesses? How can market leaders expand the total market and defend market share? Chapter Questions (cont.) How should market challengers attack market leaders? How can market followers or nichers compete effectively? Five Forces Determining Segment Structural Attractiveness Industry competitors Potential entrant Suppliers Buyers Substitutes Industry Concept of Competition Number of sellers and degree of differentiation Entry, mobility, and exit barriers Cost structure Degree of vertical integration Degree of globalization Strengths and Weaknesses Share of market Share of mind Share of heart Steps in Benchmarking Determine which functions or processes to benchmark Identify the key performance variables to measure Identify the best-in-class companies Measure the performance of best-in-class companies Steps in Benchmarking (cont.) Measure the company’s performance Specify programs and actions to close the gap Implement and monitor results Expanding the Total Market New customers More usage Six Types of Defense Strategies Defender Flank Preemptive Counteroffensive Mobile Contraction Factors Relevant to Pursuing Increased Market Share Possibility of provoking antitrust action Economic cost Pursuing the wrong marketing-mix strategy The effect of increased market share on actual and perceived quality Other Competitive Strategies Market challengers Market followers Market nichers Market Challenger Strategies Define the strategic objective and opponents Choose a general attack strategy Choose a specific attack strategy General Attack Strategies Frontal attack Flank attack Encirclement attack Bypass attack Guerilla warfare Specific Attack Strategies Price discounts Lower-priced goods Value-priced goods Prestige goods Product proliferation Product innovation Improved services Distribution innovation Manufacturing-cost reduction Intensive advertising promotion Market Follower Strategies Counterfeiter Cloner Imitator Adapter Niche Specialist Roles End-User Specialist Vertical-Level Specialist Customer-Size Specialist Specific-Customer Specialist Geographic Specialist Product-Line Specialist Job-Shop Specialist Quality-Price Specialist Service-Specialist Channel Specialist Balancing Orientations Competitor-centered Customer-centered | Dealing with Competition Marketing Management, 13th ed 11 Chapter Questions (cont.) How do marketers identify primary competitors? How should we analyze competitors’ strategies, objectives, strengths, and weaknesses? How can market leaders expand the total market and defend market share? Chapter Questions (cont.) How should market challengers attack market leaders? How can market followers or nichers compete effectively? Five Forces Determining Segment Structural Attractiveness Industry competitors Potential entrant Suppliers Buyers Substitutes Industry Concept of Competition Number of sellers and degree of differentiation Entry, mobility, and exit barriers Cost structure Degree of vertical integration Degree of globalization Strengths and Weaknesses Share of market Share of mind Share of heart Steps in Benchmarking Determine which functions or processes to benchmark Identify the key performance variables to measure Identify the best-in-class companies Measure the performance of .
