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C18 Competitor Orientation (Competitive Strategies (Basic Competitive…

- - - - Why?
        
        Because it reveals whether the competitor is satisfied with its current situation and HOW it might react to different competitive actions
      - How?
        
        Monitor its competitors objectives for various segments
      - What?
        
        Their relative importance on:
        
        current profitability
        
        market share growth
        
        technological leadership
        
        Cash fow
        
        Service leadership
        
        Other goals
    - - What?
        
        Competitors can be sorted into group that use different strategies
        
        A strategic group is a group of industries that use the same or similar strategy
        
        must understand
        how each competitor delivers value to its customers
        
        needs to know each competitor’s product quality, features,
        
        and mix; customer services; pricing policy; distribution coverage;
        
        sales force strategy; and advertising, sales promotion,
        
        and online and social media programs
        
        must study the
        
        details of each competitor’s research and development (R&D), manufacturing, purchasing,
        
        financial, and other strategies.
      - How?
        
        Look at all dimension that identify strategic groups within the industry
      - Why?
        
        Because the more that one firm’s strategy resembles another firm’s strategy, the more the two firms compete
        
        Because
    - - What?
      - How?
        
        gather data on each competitor’s goals, strategies, and performance over the past few years
        
        conduct primary marketing research with customers, suppliers, and dealers
        
        through secondary data, personal experience, and word of mouth
      - Why?
        
        To answer a
        critical question: What can our competitors do?
  - - - How?
        
        customer value
        analysis
        
        the aim is to determine the benefits that target customers
        value and how customers rate the relative value of various competitors’ offers
      - Why?
        
        gaining competitive advantage
        
        find the place in the market where it meets customers’ needs in a way rivals can’t
      - What?
        
        focus on one of several classes of competitors
        
        must invest in strengthening those attributes
        or finding other important attributes where it can build a lead
    - - Blue Ocean Strategy
        
        aka value innovation
        
        create powerful leaps in value for both the firm and its buyers, creating
        
        all-new demand and rendering rivals obsolete. By creating and capturing blue oceans,
        
        companies can largely take rivals out of the picture.