External Analysis: competitors, customer and markets

External Analysis: competitors, customer and markets

1. Competitors analysis (strategic groups)

   • market
     • group of customers for specific products (ie: market for luxury cars in Germany)
   • sector
     • a broad industry group (group of market) in public sector. (ie: health sector)
   • competitive analysis
     • competitor profiling (focus direct threats)
     • strategic groups
       • group of firms in an industry following the same / similar strategy along the strategic dimensions
     • market segments
       • group of customers who have similar needs that are different from customer needs in other parts of the market.
     • customer profiling & strategic customers
       • the main characteristics of the customer & how customers make their purchasing decisions.
     • strategy canvas

2. Market & market segment analysis

   • Market analysis: determine attractiveness & competitive advantange
   • determining variable
     • overall size (market volume & potential)
     • market shares of key competitors
     • growth rates/ trends (no. of parameters; economy; legal)
     • segments (relative grwth rates)- the population
     • profitability (determine profit by framework; help how profitability)
     • existing/ likely competitors

3. Customer analysis (strategic customers)

   • the person(s) at whom at the strategy is primarily addressed because they have the most influence over which goods/ services are purchased.

4. Critical success factor/ key factor for success

   • products features with which an organisation must outperform the competition because they're particculary valued by a group of customers.

5. Blue ocean

   • new market spaces where competition is minimised

6. Red ocean

   • where industries are already well defined & rivalry is intense

7. Strategy canvas

   • compare competitive according to their performances on CSFs/ KFS to dervelop strategies based on creating new market spaces