chep18
Pragnesh Patel
1. Which point of view is best for identifying competitors – industry or market?
Ans : The process of identifying key competitors are assessing their objectives, strategies, strengths and weaknesses and reaction patterns and selecting which competitors to attack or avoid.
There are some steps in analyzing competitors as below:
Identifying the company’s competitors
Firms faces a wide range of competition, be careful to avoid competitor myopie, methods of identifying like industry point of view, market point of view in that competitor maps helps.
Assessing competitors objectives : Benchmarking , strategies, strengths and weaknesses and reaction patterns
Types of Benchmarking : process- searching for the best way to perform a process. , Internal- enables users to compare similar activities within their own organization, competitive – organization is compared to direct competitors or those who are selling to the same customer base. selecting which competitors to attack or avoid
Identify strong and weak competitors based on customer value analysis, close or distant competitors : most companies compete against close competitors.
2. Explain the difference between a good and bad competitor.
Ans : Good competitors play by the rules of the industry. Bad competitors in contrast , break the rules. They try to buy share rather than earn it , take large risks, and play by their own rules. For example, Yahoo! Music Unlimited sees Napster, Rhapsody, AOL Music, Amazon.com, and most other digital music download services as good competitors. They share a common platform, so that music bought from any of these competitors can be played on almost any playback device. However, it sees Apple's iTunes Music Store as a bad competitor, one that plays by its own rules at the expense of the industry as a whole. With the iPod, Apple created a closed system with mass appeal. A company might be smart to support good competitors, aiming its attacks at
1. Which point of view is best for identifying competitors – industry or market?
Ans : The process of identifying key competitors are assessing their objectives, strategies, strengths and weaknesses and reaction patterns and selecting which competitors to attack or avoid.
There are some steps in analyzing competitors as below:
Identifying the company’s competitors
Firms faces a wide range of competition, be careful to avoid competitor myopie, methods of identifying like industry point of view, market point of view in that competitor maps helps.
Assessing competitors objectives : Benchmarking , strategies, strengths and weaknesses and reaction patterns
Types of Benchmarking : process- searching for the best way to perform a process. , Internal- enables users to compare similar activities within their own organization, competitive – organization is compared to direct competitors or those who are selling to the same customer base. selecting which competitors to attack or avoid
Identify strong and weak competitors based on customer value analysis, close or distant competitors : most companies compete against close competitors.
2. Explain the difference between a good and bad competitor.
Ans : Good competitors play by the rules of the industry. Bad competitors in contrast , break the rules. They try to buy share rather than earn it , take large risks, and play by their own rules. For example, Yahoo! Music Unlimited sees Napster, Rhapsody, AOL Music, Amazon.com, and most other digital music download services as good competitors. They share a common platform, so that music bought from any of these competitors can be played on almost any playback device. However, it sees Apple's iTunes Music Store as a bad competitor, one that plays by its own rules at the expense of the industry as a whole. With the iPod, Apple created a closed system with mass appeal. A company might be smart to support good competitors, aiming its attacks at