competitor analysis

Question 1

what are the 3C’s that are belong to the competitor triangle

Answer 1

-customer
-competitor
-company

Question 2

what is competitive advantage

Answer 2

delivers great value to customer at a lower cost than competitors

Question 3

example of how a competitor ruined the market

Answer 3

Tesla ruined the car market by revolutionising the energy cars
-new company with a lot of money,
-companies usually end up copying each-other

Question 4

what is the info about competitors that we need to know (6)

Answer 4

-strengths/weaknesses
-how they make decisions
-their priorities
-satisfaction on their current position
-what changes are they likely to attempt to change the current position
- 2 things we do that threaten them

Question 5

what can we do to help build our competitors profile

Answer 5

1) make a research of the person involved in the decision-making
2) map what is important for them to succeed
3) prepare investment history (know where they spend the €)
4) evaluate their products/services
5) do the same in the customers pov
6) Analyse factors like: sales force, Pricing, Advertising, Financial Position

Question 6

Difference between secondary and primary data

Answer 6

Secondary: available to everyone (financial reports, magazines, news)

Primary data: only available for us, data collected by the company

Question 7

what is “the served market” concept

Answer 7

• geographical region/area in which a company’s services/products are actively offered