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Nội dung Text: Giáo trình: Marketing Management_ Chapter 06
- Market
Structure
and
Competitor
Analysis
Chapter
6
6-1
- Key Learning Points
Performing a market structure
analysis, which identifies your major
competitors.
Performing a competitor analysis.
Alternative sources of information
for analyzing competitors.
Using game theory in the
development of competitive strategy.
6-2
- Product & Service
Decisions structure
“The purpose of a market
analysis is to enable the marketing
manager to understand who the
competition is. Misidentification of
the competitive set can have a
serious impact on the success of a
marketing plan, especially in the
long run.”
- Russell S. Winer
6-3
- Overview
Importance of Market Structure and
Competitive Analysis:
– Allows firms to determine which other
products are competing against their
products for the same customer benefit.
– Crucial to understanding / developing a
value proposition and appropriate
marketing implementation decisions.
– Allows firms to be proactive and
anticipate competitive actions.
6-4
- Market Structure Analysis
Identifying competition is critical
– Failing to identify a competitive threat
can have disastrous consequences.
• New product forms (e.g. electronic watches
in the 1970’s) can become key competitors.
– Competitors must be identified in order
to properly compute market share.
• Market share = “(us / us + them)”
• Unethical managers can manipulate market
share computations by changing
competitors included in calculation.
6-5
- Market Structure Analysis
Methods of Identifying Competitors
– Supply-based approaches
• Classify competitors based on objective
attributes.
– Demand-based approaches
• Classify competitors based on customer
attitudes and behaviors.
– The Product-Industry Hierarchy
identifies four levels of competition.
6-6
- Figure 6-1:
Product-Industry Hierarchy
6-7
- Market Structure Analysis
Defining Competition: Demand-
Based Methods
– Competition can be defined at every
level of the hierarchy (Figure 6.1)
• This method fails to adequately get at the
heart of competition or market definition
• Competition is best defined by the
customer, rather than by the marketing
manager, as implied in the following
definition.
6-8
- Product & Service
Decisions
“An industry should be
recognizable as a group of
products that are close
substitutes to buyers, are
available to a common group
of buyers, and are distant
substitutes for all products not
included in the industry.”
- Joe S. Bain
6-9
- Market Structure Analysis
Defining Competition: Demand-Based
Methods
– Figure 6.2 defines competition from the
customer’s perspective.
• Product form competition: narrowest form, includes
products of the same product type.
• Product class/category competition: products with
similar features that provide the same basic function.
• Generic competition: products that fulfill same basic
need.
• Budget competition: products that compete for the
same discretionary budget dollars.
6 - 10
- Figure 6-2:
4-Level Model of Competition
6 - 11
- Discussion Question
Consider the DiGiorno
brand of frozen pizza.
What brands, products,
or services would you
classify as product form,
product class, generic,
and budget level
competitors?
6 - 12
- Market Structure Analysis
Four-level model of competition implies
different tasks for each competitive level:
– Product form competition: aim marketing
activities at direct competitors.
– Product class/category competition: convince
customers that your product form is best in
the category.
– Generic competition: convince consumers of
the superiority of your product category’s
ability to satisfy needs over other categories.
– Budget competition: same challenge as with
generic competition.
6 - 13
- Market Structure Analysis
Four-level model of competition:
– Cross-elasticity of demand is often
used as an indicator of substitutability
when defining generic competitors.
• The percentage change in product A’s sales
due to the percentage change in product
B’s sales is termed cross-elasticity.
• Positive cross-elasticities indicate that the
two products are competitors.
• Major problem relates to interpretation of
cross-elasticities.
6 - 14
- Product & Service
Generic competition
Decisions
characterizes the
breath-freshening
industry.
A number of
products in various
categories compete
for this market,
including chewing
gum, toothpaste,
breath mints,
breath sprays, and
mouthwashes.
6 - 15
- Market Structure Analysis
Defining Competition: Demand-
Based Methods
– Substitution in use is another method
of using customer-based assessments
of competition.
• Focus groups help determine consumer
perceptions of the similarity of products in
usage contests.
• Results in many budget and generic level
competitors.
6 - 16
- Market Structure Analysis
Defining Competition: Supply-Based
Methods
– Managerial judgment and external data
sources are used to determine product form
and product category competitors.
• The North American Classification System (NAIC)
is an excellent resource.
• Trade associations, consultants, and others may
supply category or industry definitions.
– Generic and budget level competitors are the
most difficult to determine
• Competitors may be numerous and they are not
readily observable.
6 - 17
- Competitive Analysis
Competitive analysis is becoming
increasingly important.
– Executive education in competitive
intelligence gathering is a key training topic.
– Some universities offer certification in
competitive intelligence programs.
Competitive intelligence activities have
an unsavory reputation due to ethical
lapses by some companies.
The competitor analysis framework
consists of four key phases of analysis.
6 - 18
- Figure 6-4:
Competitor Analysis
Framework
6 - 19
- Competitive Analysis
Competitors’ objectives
Key Stages offer insight into future
strategies
– Direct observation of
Objectives competitors’ actions,
sales call reports, and
Strategy other resources help
determine objectives.
Strengths and Ownership status
Weaknesses (public, private,
government) should be
Match Up considered when
assessing objectives.
6 - 20
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