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Questions to Structure Competitor Analysis Who are the competitors? Who are our most intense competitors? Who are the makers of substitute products? Who are potential competitors? What are the barriers to entry? How can we discourage potential competitors? Can competitors be grouped into strategic groups on the basis of assets, skills or strategies? Kelley Fall 2001 Marketing Management 1 Evaluating Competitors What are their strategies? What is the level of their commitment? Which competitors are most successful overtime? Why? What is the strength of each competitor or strategic group? What leverage points (our weaknesses) could competitors exploit? Kelley Fall 2001 Marketing Management 2 Identifying Relevant Assets and Skills Why are successful businesses successful? Why are unsuccessful businesses unsuccessful? What are the key customer motivations in choosing a competitor? What are the competitive advantages of competitors? Kelley Fall 2001 Marketing Management 3 Competitor Strength Grid Assets and Skills Product Quality Position Market Share Packaging Sales Force/Distribution Advertising Kelley Fall 2001 Marketing Management 4 Questions in Conducting a Market Analysis Size and Growth What are the important and potentially important submarkets? What is the size and growth characteristics of these submarkets? What submarkets are or will soon decline? How fast will the submarkets decline? Will there be pockets of enduring demand? Kelley Fall 2001 Marketing Management 5 Questions in Conducting a Market Analysis Profitability - For each submarket consider: How intense is competition between firms? What is the threat of new entrants and substitute products? What is the bargaining power of suppliers and customers? How profitable is the submarket? Kelley Fall 2001 Marketing Management 6 Questions in Conducting a Market Analysis Cost Structure What are the major cost and value-added components for various types of competitors? Kelley Fall 2001 Marketing Management 7 Questions in Conducting a Market Analysis Distribution systems What are the alternative channels of distribution? How are the channels of distribution changing? Kelley Fall 2001 Marketing Management 8 Questions in Conducting a Market Analysis Trends What demographic, economic and social trends are taking place in the market? Kelley Fall 2001 Marketing Management 9 Questions in Conducting a Market Analysis Key Success Factors What are the key success factors needed to compete successfully? How will these success factors change in the future? How can the key success factors of competitors be neutralized? Kelley Fall 2001 Marketing Management 10