Competitive analysis

    Competitive analysis       • Which companies are considered competitors? Are they direct or indirect competitors?• What types of information will you need to collect?• What sources can you turn to that will have the types of information you are looking for? o Companies that provide market information, such as the Nielsen Corporation.o Trade publications.o Surveys.• How will you organize the information you collect to make it useful to the company?Assessment RequirementsIn your Competitive Analysis, include the following:• Identify the company's top competitor and describe its product.• Analyze the competition's product. o Compare the two products (your company's and the competitor's) in terms of: ? Market share.? Product appeal.? Quality.? Growth potential.? Unique selling proposition.o Compare the two products in terms of features, benefits, and cost. ? How do consumers rate each product in these terms?• Evaluate the marketing strategy of the competitor. What can the strategies used by a competitor tell you about organizational direction?• Explain how this analysis will guide the marketing decisions of the company.