How do you categorize these key issues when researching the company's competitors, including: Their competitive advantage, Competitor intelligence focuses on competitor capabilities, and Competitor strategies and prediction of response patterns, and how competitors will react to future actions of the company?
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How do you categorize these key issues when researching the company's competitors, including:
Their competitive advantage, Competitor intelligence focuses on competitor capabilities, and
Competitor strategies and prediction of response patterns, and how competitors will react to future actions of the company?
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- In examining the competitive dynamics within an industry, we discussed the need to first ascertain “the extent to which a company is a strong competitor” and the three (3) drivers of competitive behaviour. You are required to explain the two elements or basis used to determine the extent of competition from another company in the same industry and further explain the three (3)) drivers of competitive behaviour.How do competitive actions and competitive rivalry differ across slow- and fast-cycle markets? What are key success factors associated with competitive action in both market contexts?Describe briefly the steps taken for a Competition for Market Shareand Profits?
- Identity the contextual influence that you believe will pose the greatest challenge to companies' competitiveness and identify the contextual influence that will pose the least challenge to companies' competitiveness.Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?Companies who want to grow their markets rely on market research to help determine consumer behavior and the most likely new potential marketplaces. Some companies design and conduct their own market research (primary research) while others choose to utilize data from existing market research conducted by other firms (secondary research). Simulated Business Scenario Vanessa is the owner of a well-known brand of handmade decorative items such as dream catchers and candle holders. The brand, Sirrah, has a reputation for designing and selling high-quality items at premium prices. Considering current economic conditions and the increasing influx of similar but inferior products from foreign suppliers, Vanessa is interested in expanding Sirrah into new markets. Vanessa knows she needs to research various aspects of new potential marketplaces to determine customer insights and if a new market will tolerate new competition from her Sirrah brand. She is on a limited budget so, she is faced…
- How can an organization effectively assess and enhance its strategic capability to gain a competitive advantage in the market?Is the Coca Cola performance management system aligned and integrated in order to yield data and information? How is this comparative data used to support business analysis and decision making?How do you complete an internal marketing audit for Walmart and categorize the following key issues like Competitors, Their competitive advantage, Their competitor intelligence (CI), Focus on competitor capabilitiesCompetitor strategies, Prediction of response patterns, and how competitors will react to future actions of the company?
- Respond to the following in a minimum of 175 words: How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? Provide an example.Compare and contrast industry market potential and company sales potential. How is an estimate of industry market potential helpful to managers? What factors are necessary to determine industry market potential?Michael Porter argues that business operates within the frenzy and flux of five different forces that combine to determine its profitability. What is one way to boost your customers competitive position? O 1) Help customers make better decisions 2) Provide further discounts to stop competition O 3) Form a diamond team approach 4) Help customers prevent new entrants in the market