In the first assessment, you selected a company and product to study and then analyzed aspects of the product and company’s marketing strategy. In this assessment, you will analyze the competition for the product using a variety of information sources.

Suppose that you have now been hired by the company you selected, and have been asked to conduct a competitive analysis of the product you chose. Format this assessment as an executive report, and include a title page and reference page. Follow APA guidelines for citations and references.

Preparation

Think about the information that you will need to have in order to do a thorough 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?
    • Companies that provide market information, such as the Nielsen Corporation.
    • Trade publications.
    • Surveys.
  • How will you organize the information you collect to make it useful to the company?

Assessment Requirements

In your Competitive Analysis, include the following:

  • Identify the company’s top competitor and describe its product.
  • Analyze the competition’s product.
    • Compare the two products (your company’s and the competitor’s) in terms of:
      • Market share.
      • Product appeal.
      • Quality.
      • Growth potential.
      • Unique selling proposition.
    • 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.

Additional Requirements

 

  • Include a title page and reference page.
  • Length: 3–5 double-spaced pages, not including title page and reference page.
  • Number of resources: At least 4. Resources must be formatted according to current APA guidelines.
  • Font: Times New Roman, 12-point.

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