Chapter 3: Industry Analysis: Positioning the firm Within the Specific Environment

-Components of Competitors analysis

advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain
more customers than its competition. There can be many types of competitive advantages including the firm's
cost structure, product offerings, distribution network and customer support.

FOCUS
-strategy is highly marketing-oriented.
-The firm must identify a very particular and narrow market segment that it can serve most effectively and efficiently.

Competitor Analysis

--is an assessment of the strengths and weaknesses of current and potential competitors.
--a crucial and central component of strategy formulation.
--a " given". The firm must not take competitors for granted.
--must be a conscious and systematic effort.

Components of Competitor Analysis:

-Competitors Future Goals

-Competitor's Current Strategy
-Competitor's Response Profile
-Competitor's Strenghs & Weaknesses
-Competitor's Assumptions About Itself & the Industry

Self Analysis
-a systematic attempt by an individual to understand his or her own personality without the aid of another
person

What is the firm's competitive advantages

-advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain
more customers than its competition. There can be many types of competitive advantages including the
firm's cost structure, product offerings, distribution network and customer support.