1.e Competitive Structure Analysis
Meaning of Competitive Structure Analysis¶
Competitive structure analysis is a process that involves examining the competitive landscape of a business or industry to understand the competitive dynamics and identify key competitors. It helps businesses to assess their position in the market, identify their strengths and weaknesses, and develop strategies to improve their competitive advantage.
Features of Competitive Structure Analysis¶
Competitive structure analysis typically includes the following features:
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Identification of key competitors: This involves identifying the direct and indirect competitors in the market, as well as their market share, brand perception, and unique value proposition.
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Product/service analysis: This involves analyzing the products or services offered by the competitors, including their features, pricing, and quality.
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Market position analysis: This involves determining the market share, brand perception, and unique value proposition of the competitors.
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Marketing strategy analysis: This involves observing the advertising, content marketing, PR efforts, and online presence of the competitors.
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Operational analysis: This involves understanding the supply chain, distribution, and customer service practices of the competitors.
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Strengths and weaknesses analysis: This involves identifying the strengths and weaknesses of the competitors, which can help businesses to identify areas where they can improve their competitive advantage.
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Regular review and update: The market evolves, and competitors change strategies, so it's important to keep the competitive analysis current.
By conducting a competitive structure analysis, businesses can gain a better understanding of the competitive landscape and develop strategies to improve their competitive advantage.
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