Competitor Analysis

Name: Competitor Analysis
Rating: 4.3 (209 reviews)

‘Competitor Analysis’ is extremely crucial to make an organization successful.

Created byManagement Study Guide

Last updated 11/2021

English

Arabic [Auto],English [Auto],

What you'll learn

Explain What is Competitor Analysis
List the Dimensions in Competitor Analysis
List the Objectives of Competitor Analysis
Explain Competitor Analysis in Strategic Planning
List the Benefits of Competitor Analysis
Explain the Steps of Competitor Analysis
Explain How to Identify Current & Potential Competitor
List the Sources of Potential Competitors
Explain What is Competitor Profiling
Explain What is CSF Analysis
Explain SWOT Analysis for Competitor Analysis
Explain How to Conduct Environmental Scanning
Explain Porter’s Five Forces Model of Competition
Explain What is Competitive Advantage
Explain the Blind Spots in Competitor Analysis

Course content

1 section • 16 lectures • 1h 14m total length

Competitor-Analysis-Introduction3:21
Explore the essentials of competitor analysis to assess market position, identify competitors, inform strategy, and understand tools like environmental scanning and Porter's five forces.
Explain What is Competitor Analysis3:27
Analyze competitive industry environments to identify weaknesses, opportunities, and threats, shaping strategy by studying present and potential competitors. Perform macro, micro, and internal analyses to inform marketing and profitability.
List the Dimensions in Competitor Analysis0:26
Identify core dimensions of competitor analysis, including size, reputation, culture, growth and profitability objectives, weaknesses, cost structure, strengths, business strategies, and exit barriers.
List the Objectives of Competitor Analysis1:00
Identify the objectives of competitor analysis, including predicting demand and supply, studying the market, formulating strategy, increasing market share, assessing trends, and anticipating diversification, expansion, and future competitor strategies.
Explain Competitor Analysis in Strategic Planning1:45
Explain how competitor analysis informs strategic planning by aligning resources with the competitive environment, identifying core competencies, and leveraging past trends to anticipate future opportunities and threats.
List the Benefits of Competitor Analysis0:57
Highlight the benefits of competitor analysis for designing strategies and assessing market growth or decline. Prepare plans to address threats and enter new markets.
Explain the Steps of Competitor Analysis1:26
Identify potential, current, and emerging competitors; profile them; understand strategies; analyze strengths and weaknesses; assess market attractiveness; analyze sources of competitive advantage; and design competitive strategies.
Explain How to Identify Current & Potential Competitor6:41
Identify current and potential competitors through industry based analysis of industry structure and players, and market based analysis focusing on brand, industry, product, and generic competition tied to customer needs.
List the Sources of Potential Competitors1:37
Identify potential competitors from sources such as organizations using related technologies, firms targeting the same market, and startups founded by former employees; then perform thorough competitor profiling.
Explain What is Competitor Profiling0:45
Explore competitor profiling by identifying rivals, analyze their objectives, strategies, strengths and weaknesses, and reactions, considering company size, history, management, and economics to explain profitability, market share, and service leadership.
Explain What is CSF Analysis4:00
Explain what CSF analysis is within competitor analysis, detailing critical success factors and how to assess and compare competitive strategies, strengths, and weaknesses using SWAT analysis.
Explain SWOT Analysis for Competitor Analysis13:24
Explore SWOT analysis as a framework for competitive analysis, using strengths, weaknesses, opportunities, and threats to evaluate internal and external factors and guide strategic decisions, illustrated by BlackBerry’s market challenges.
Explain How to Conduct Environmental Scanning4:14
Discover how to conduct environmental scanning by examining internal organization dynamics and external industry, national, and macro factors, using Porter’s five forces to assess market attractiveness.
Explain Porter’s Five Forces Model of Competition18:14
Explore Porter’s five forces model of competition to assess industry structure and profitability by examining threats of entrants, substitutes, buyer power, supplier power, and rivalry.
Explain What is Competitive Advantage7:29
Explore how to gain and sustain competitive advantage through thorough competitor analysis, learning to design strategies, assess rivals, and align internal strengths with market opportunities.
Explain the Blind Spots in Competitor Analysis6:03
Identify six blind spots in competitor analysis—industry boundaries, recognition of competitors, visible competencies, where vs how to compete, assumptions about competitors, and information overload.

Requirements

No prior knowledge is required

Description

‘Competitor Analysis’ is extremely crucial and the management should have a thorough knowledge and analysis of the general and competitive environment of the organization in order to make an organization successful. Organizations always operate within a competitive industry environment. They do not exist in vacuum. Analyzing an organization’s competitors helps an organization to discover its weaknesses, to identify opportunities for and threats to the organization from the industrial environment.

While formulating an organization’s strategy, managers must also consider the strategies used by the organization’s competitors. Competitor analysis is a driver of an organization’s strategy and affects how firms act or react in their sectors. The organization carries out a competitor analysis to measure/assess its standing amongst its competitors. Competitor analysis begins with identifying present as well as potential competitors. It portrays an essential appendage to conduct an industry analysis. An industry analysis gives information regarding the probable sources of competition (including all the possible strategic actions and reactions and effects on profitability for all the organizations competing in the industry).

Competitor Analysis is a framework that strategy consultants use to scan the external macro-environment in which a firm operates. This analysis is essential for an organization to design an effective marketing strategy. It’s a way of working out what is going on ‘out there’ so that businesses can then respond to it. It is important to note here that Competitor Analysis can be performed and is relevant for any type of business whether large, small or medium. Also, you should keep in mind that the macro-economical factors can differ per continent, country or even region, so normally a Competitor Analysis should be performed per country.

One of the approaches to create great working strategies is to look to the past to seek ideas for the present. Hence, you can look at the past trends that worked in the market and for your organization and create ideas by tweaking those strategies to work in the present day environment. The first and foremost step of conducting a Competitor Analysis is identifying your current, potential as well as future competitors. This is a crucial step because if an organization does not carefully identify its competitors, its competitor analysis would fail to reflect the true picture of the company’s position in the market.

Who this course is for:

Retailers
Business Analysts
Entrepreneurs
Operations Managers
Supervisors and Managers