competitor analysis Flashcards
how to do competitor’s analysis
SWOT analysis
what is SWOT analysis
S - strength
W- weakness
O - opportunities
T - threats
Do SWOT analysis for KFC
S - strong brand recognition: known for its fried chicken globally, causing people to trust and return again
W- high operational costs which will reduce overall profit, business may need to increase price to cover costs
O - healthier options to attract health conscious consumers such as adding salad bowls
sustainability initiatives by using eco-friendly packaging
T - high competition with other fried chicken food restaurants such as Jollibee and Texas chicken which causes less customers to visit, making lesser profit
Do SWOT analysis for NTUC
S: provide a wide variety of products including groceries, fresh produce, electronics and household goods
strong brand reputation: trusted in Singapore for fair pricing and quality products
provides subsidies to senior citizens and lower income groups
W: reliance on suppliers can cause quality and standards to drop
high operational costs as there are many outlets across Singapore
limited international presence as it is primarily focused in Singapore
O - introduce more eco-friendly products and reducing plastic usage can attract environmentally conscious customers
develop online presence and delivery capabilities to meet rising demand for convenience
T- intense competition with other grocery store such as sheng shiong and giant and other online stores like redmart
Do SWOT analysis for H&M
S: strong brand reputation known globally for their wide selection of affordable and trendy clothing.
membership to get exclusive deals and accumulate points to earn rewards and vouchers
W- high operational costs (many stores across Singapore and other countries)
dependence on physical stores most their income are from there and not online sales
O - implement a recycling programme where customers donated their unwanted clothes for reuse purposes
collaborate with famous influencers and models to promote products and brand
T - intense competition with other fashion brands like uniqlo and cotton on and online stores like shein
Why business do competitor analysis?
- study strategies that can improve the business
- study challenges that is peventing business from growing
swot analysis for ikea
Strengths - wide variety of affordable and good quality furnitures such as beds and sofa and household goods like curtains and carpets. Amazing customer experience - display areas for customers to walk around and get inspiration for their homes and a restaurant with good and cheap food.
Good brand reputation known for their extensive product range, good food and innovative designs.
Weaknesses - high operational costs as ikea is huge and takes up a lot of space causing utilities, rent and salaries to be expensive which will reduce company’s profit. To cover these costs, they need to increase their prices which might affect customer traffic.
reliance on third party manufacturers. The product quality may be inconsistent.
Opportunities - open an app or website to sell and market their items to attract young people as young people prefer shopping online than physically due to convenience. In case of future pandemic, ikea would still have income flowing in.
Threats - intense competition with other furniture shops like taobaao and other neighbourhood furniture shops (harvey norman and courts)
swot analysis for mcdonalds
Strengths :
Has a mcdoncald’s app that provides delivery to your doorstep, can also become a member and earn points to redeem free items. This attracts customers to buy more so they can accumulate points and earn rewards.
Hosts birthday parties
Wide range of food and drinks (breakfast, mcCafe, dessert kiosk)
Convenient ordering (online, in-store, drive-thru)
Weaknesses:
High operational costs as there are many outlets across Singapore (employee salaries, utility bills, maintenance)
Quality of ingredients might drop as reliance on suppliers
Opportunities:
Partner with delivery companies such as grab and gojek
Implement healthier options such as salads and corn cups for health conscious costumers
Threats:
1. Intense competition among fast food chains such as KFC, burger king, Jollibee….
what does the marketing mix consist of?
product, pricing, placing, promotion stretagy
Product strategy of a hotel
Core - a place for tourist to stay during their vacation
Actual - provides a bed, tv and wifi, provide different types of rooms, restaurant, room service , mini bar, swimming pool and gym
Augmented - space to put luggages, after check out, online reservation, free shuttle bus to the airport, self check in kiosks
Product strategy of i-pad
Core - need for a device that can be used for entertainment, school and connectivity
Actual - colour and size, brand, storage available, battery life
Augmented - warranty, icloud, access to variety of apps and accessories, repair services
what is a positioning statement
a short sentence to attract customers and show them who we are
