Marketing Analytics II

Transcription

1 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 1 Marketing Analytics II Chapter 4. Competitive Analysis Stephan Sorger Disclaimer: All images such as logos, photos, etc. used in this presentation are the property of their respective copyright owners and are used here for educational purposes only

2 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 2 Outline/ Learning Objectives Topic Description Competitive Information Competitive Analysis Competitive Actions Gathering actionable competitive information Applying models to analyze competitive situations Deciding on defensive or offensive actions

3 Competitive Analysis Benefits New Entrants Detect new companies entering Surprise Avoidance Keep abreast of latest developments Competitor Forecast Predict what competitors will do Competitive Analysis Benefits Time for Corrective Action Early warning system Customer Perception Focus on relevant competitors Lessons Learned Learn from other companies Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 3

4 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 4 Competitive Analysis Process Information Analysis Action Competitive intelligence Understanding Defense or offense

5 Competitive Information Sources Information Analysis Action Company Websites Product, management, etc. Financial Analysts Useful for private equity firms Industry Analysts Reports on market and competitors Competitive Information Sources Trade Publications Industry-specific journals Web Traffic Alexa, Compete, Google, etc. Social Media Top hashtags, keywords, users, etc. Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 5

6 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 6 Competitive Analysis Tools: Alexa dermagist Alexa.com Search Website Details Audience Demographics Search Analysis

7 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 7 Competitive Analysis Tools: Compete Compete.com dermagist lifecellskin 7minutelift Unique Visitors Monthly Metrics PRO Account Data

8 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 8 Competitive Analysis Tools: Google Alerts Google Alerts dermagist Search Alert #1 Alert #2 Alert #3

9 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 9 Competitive Analysis Tools: Google Trends Google Trends wrinkle cream Explore Event Timeline A B C A. Event 1 B. Event 2 C. Event 3 Primary Regions & Languages List of Events

10 Competitive Information Sources Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 10

11 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 11 Identification of Principal Competitors Type of Competitor Direct Competitors Indirect Competitors Principal Competitors Description Offering similar products and services Same market Offering different products and services Same market or different market Fulfills same function (or perceived so) Companies on which to focus 3 Criteria to use (see next slide)

12 Identification of Principal Competitors Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 12

13 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 13 Competitive Analysis Models Information Analysis Action Porter 5-Forces Model PESTLE Trend Analysis Competitive Analysis Models Perceptual Maps SWOT Analysis

14 Competitive Analysis Model: PESTLE Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 14

15 Competitive Analysis Model: Porter 5 Forces Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 15

16 Competitive Analysis Model: Perceptual Map Oster Waring High Power Hamilton Beach Basic Features Kitchen Aid Black & Decker Sunbeam Feature-Rich Cuisinart Low Power Perceptual map interpretations for competition: -Large distance between Cuisinart and other companies consumers perceive them differently -Quadrants with brand clusters -Empty quadrants Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 16

17 Competitive Analysis Model: SWOT Strengths, Weaknesses, Opportunities, and Threats for Jarden, maker of Oster, Sunbeam, etc. Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 17

18 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 18 SWOT: Core Competency CEO Development Finance Human Resources Information Technology Marketing Operations Sales Service Typical organizational chart

19 SWOT: Core Competency Core competencies, arranged by organizational function Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 19

20 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 20 Competitive Actions Information Analysis Action Action Defensive Actions Attack Countermeasures Market opportunities Differentiation Addressing weakness Diversification Vigilant monitoring Offensive Actions Market Opportunities New market segment Go-to-market approach Differentiating functionality

21 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 21 Competitive Actions: Defensive Actions Nintendo Bank of America Company 1 Cisco Microsoft Bing Random Bypass Attack Counter: Market Opportunities Encirclement Attack Counter: Differentiation Flank Attack Counter: Address Weakness Frontal Attack Counter: Diversification Guerilla Attack Counter: Vigilant Monitoring Company 2 Competitive Analysis Actions

22 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 22 Competitive Actions: Defensive Actions Defensive actions against competitor attacks

23 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 23 Competitive Actions: Offensive Actions Market Opportunities New Market Segment Skoda Auto Go To Market Approaches Lenovo PC Differentiating Functionality Westin Heavenly

24 Stephan Sorger 2015: Marketing Analytics: Competitive Analysis: 24 Check Your Understanding Number Question 1 Identify your go-to sources for competitive intelligence 2 See how to apply competitive intelligence toward competitor understanding 3 Understand how to decide on specific defensive or offensive competitive actions