Question

Topic: Student Questions

What Goes Into Building A Competiors Analysis

Posted by Anonymous on 6/19/2005 at 12:14 PM ET 250 Points
I need to setup a marketing plan for a project in a Marketing undergraduate course. So I am stuck on the part of competitor analysis of the marketing plan. I don't what the structure of this would be like.
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  • Posted by Pepper Blue on 6/19/2005 at 2:05 PM Accepted
    Hi digvijaygohil,

    Check out this article, they discuss how to approach a competitive analysis and setting up a matrix to do so.

    https://www.marketingprofs.com/3/stroll10.asp

    Good Luck.
  • Posted on 6/19/2005 at 10:17 PM Accepted
    Depending on what industry you're working on the competitive analysis will be more or less important, and it will take on a slightly different shape. If it's B2B and you have your own sales force, for example, it will be different than if you're in a consumer market and using non-exclusive brokers/reps.

    You need to decide what's important for your company/product/industry, and then tailor the competitive analysis to be most relevant for the situation.

    Templates are useful for identifying the possible parameters, but you can't rely on them to tell you what to do in a specific instance.
  • Posted by bobhogg on 6/21/2005 at 5:28 PM Accepted
    digvijaygohil...

    A good model to use for competitive analysis is Porter's Five Forces. Here's a link to the QuickMBA site for a brief explanation of it:

    https://www.quickmba.com/strategy/porter.shtml

    Good luck,
    Bob
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