Competitors-Coraggio

Competitive EnvironmentMarketplace, Competitors, Outside Threats and TrendsCoraggio C11:30 - 4:15 Friday 12th Aug, 2011

Agenda

1:30 - 1:50 Stimulation Keynote (outside scope)

1:50 - 3:00 Working session covering Market place, Competitors, Outside Threats and Trends

3:00 - 3:15 Break

3:15 - 4:15 Stump the Strategist session. Your chewiest marketing challenge solved live in 9 minutes.

Link to me on LinkedIn (Ashton Bishop) and you can download this presentation

WHICH WAY IS THE GIRLSPINNING?

Measure what’s right, not just what’s easyLook for opportunities, not just evidence Use the right toolsThink broadly, act narrowly - bring it back to growthThink 1000 days

Competitor Checklist

YOUR MARKET?

Defining your market is

the most important

business shaping decision you can make

YOUR MARKET?


the most important


Narrow or wide

definition

YOUR MARKET?


the most important


Defines

competitorsNarrow or wide

definition

YOUR MARKET?


the most important


Defines


definition Defines

customers

YOUR MARKET?


the most important


Defines


definition Defines

customers

Determines your

position in that

category

YOUR MARKET?


the most important


Defines


definition Defines

customers

Determines your

position in that

category

Determines your

strategy for

growth

YOUR MARKET?

- Most wanted man in

the world?

YOUR MARKET?

- First solo trans-pacific air crossing?


the world?

YOUR MARKET?


- First man on the moon?


the world?

YOUR MARKET?

- Highest mountain in Australia?




the world?

YOUR MARKET?

Who remembers number 2?





the world?

YOUR MARKET?

Who remembers number 2?

BE A MARKET LEADER

IN A SMALLER MARKET





the world?

YOUR MARKET?

SOME TOOLS

For a SWOT analysis, conduct one for yourself and one for key competitors.


STRENGTHS


STRENGTHS WEAKNESSES



OPPORTUNITIES



THREATSOPPORTUNITIES

COMPETITIVE MAPPING

Noun = Name

Verb = Action

COMPETITIVE MAPPING

Direct Competitors

same noun/verb

Noun = Name

Verb = Action

COMPETITIVE MAPPING

Direct Competitors

same noun/verb

Substitute

different noun/

same verb

Alternative

same noun/

different verb

Noun = Name

Verb = Action

COMPETITIVE MAPPING

Direct Competitors

same noun/verb

Substitute

different noun/

same verb

Alternative

same noun/

different verb

Economic

different noun/verb

Noun = Name

Verb = Action

GJC COMPETITIVE MAPPING

“Espresso Coffee”

“Caffeine Hit”“Quick Coffee”

Instant coffee

Filtered coffee

snacks

soft drinks

better lunch

petrol

cigarettes

Caffeine soft drink

Tea

Easy Way

“bubble drinks”

Starbucks

McCafe

Coffee Club

Michel’s

Local cafe

Noun = Name

Verb = Action

Direct Competitors

same noun/verb

Substitute

different noun/

same verb

Alternative

same noun/

different verb

Economic

different noun/verb

Noun = Name

Verb = Action

“Cash

Takers”

INNOVATIVE ENTRANT MODELLING

INNOVATIVE ENTRANT MODELLING

ENTRANT 1 ENTRANT 2

ENTRANT 4ENTRANT 3

FUTURES TUNNEL

Historical forces

FUTURES TUNNEL

Current impacts

Historical forces

FUTURES TUNNEL

Current impacts

Historical forces

Future considerations

FUTURES TUNNEL

Trends researchWhat’s the future looking like?

The Future

When working with a futurist they would generally ask you to look at 3 different futures.

The Future

PR

OB

AB

LE

What’s most likely to

happen in the next 10

years?


The Future

PREFER

RED

PR

OB

AB

LE



years?

What would we like to happen?

And how can we help this eventuate?


The Future

What might happen in

the next 10 years ?

PREFER

RED

PR

OB

AB

LE

POSSIBLE



years?

What would we like to happen?

And how can we help this eventuate?


BINARY ANALYSIS

The Law of Selling by Dave Trott

How to make sure every $ you spend on marketing

only works for you

BINARY ANALYSIS

Where’s the growth?

• Net sum game

– More ads ≠ more money to spend

You can only get:

OR

BINARY ANALYSIS


• Net sum game


You can only get:

1. New people to use

your product

– $ entering the

category

– $ switched from

your competitor

OR

BINARY ANALYSIS

2. Existing customers

– use more

(frequency)

– pay more (up-sell,

x-sell, premium)


• Net sum game


You can only get:

1. New people to use

your product

– $ entering the

category

– $ switched from

your competitor

OR

BINARY ANALYSIS

Market Growth Brand Share

BINARY ANALYSIS


Current Users Triallists Current Users Triallists

BINARY ANALYSIS



Branding U.S.P. Branding U.S.P. Branding U.S.P. Branding U.S.P.

BINARY ANALYSIS




Market Leader should normally look to grow

the market

BINARY ANALYSIS





the market

Will join the category from next most attractive

alternative

BINARY ANALYSIS





the market


alternative

Currently your competitors’ customers

BINARY ANALYSIS





the market


alternative

Currently your competitors’ customers

Be honest if no real USP and make your

branding strong!

BINARY ANALYSIS

MARKET GROWTH

Current Users

Branding U.S.P.U.S.P.

TRIALISTS

BRANDING

MARKET GROWTH

Current Users

U.S.P.U.S.P.

TRIALISTS

BRANDINGBranding

BRAND SHARE

Current Users

Branding U.S.P.U.S.P.

TRIALISTS

BRANDING

Current Users

U.S.P. U.S.P.

TRIALISTS

BRANDINGBranding

BRAND SHARE

CURRENT

USERS

BRANDING U.S.P.U.S.P.

TRIALISTS

BRANDING

MARKET

GROWTH

COMPETITIVE ENVIRONMENT

WHY YOU NEED IT AND HOW TO USE ITCOMPETITION IS GETTING TOUGHER!Knowing your competitors' key strengths

and weaknesses is not only a great place

to learn and find business growth - it’s

crucial in how you differentiate your

business.

Without a differentiating factor there

really is no reason for your customers

to spend money with you, instead of with

your competitors.

You’ll also want to have a look at the

environment in which you’re operating in.

Knowing what trends will impact your

category, and what the threats are, can

help future-proof your business.

OUR EXAMPLE:

CATEGORY: COACHED MARKETING SERVICESMAIN COMPETITORS:

COMPETITOR PRIORITY STRENGTHS

Traditional Creative

Agencies (Do It For Me)1

Established and entrenched relationships;

opportunities to swim upstream, killer polish on

production, breadth of production

Brand Consultants

(Do It For Me)2

Reputation, inflated price-point is seen as an indicator

of quality and credibility through associations with big

brands

Seminars, Speakers,

Coaches (Do It With Me)3

Low price points, seen as experts often without real

experience, focused, high profile

In-house, Books, Digital

Support (Do It Yourself)4 Cost effective

OUTSIDE THREATS: TRENDS

US/OS based effective online

tutorials/webinars (Google)

Business coaches: Brad Sugars/

Rogen International

Increasing competition

and pressure on margins

Growing numbers of

small businesses

RESOURCES & REFERENCES

www.google.com/trends

www.google.com/press/zeitgeist

www.trendspotting.com

www.trendwatching.com

www.fastflip.googlelabs.com

www.springwise.com

I N S P I R AT I O N

MASSAGE THERAPIST

VSSPORTS MASSAGE THERAPIST

VSPERFORMANCE ATHLETE

REHABILITATIVE MASSAGE

YOU WANT TO BE

MORE RELEVANT

TO A SMALLER NUMBER OF PEOPLE

http://www.springwise.com

http://www.springwise.com

Competitors-Coraggio

Business

Transcript of Competitors-Coraggio