Up Against the Competitors
The first step in deciding how to market a product is to study the competition. You have been asked by your management team to prepare a competitive analysis of 1 competitor of the company that you selected. Organize your paragraphs into the following sections:
Content of paragraph 1: An overview of your selected company
Content of paragraph 2: An overview of your company top competitor
Content of paragraph 4: A description of your company top products and your competitor’s top products
Content of paragraph 4 5: A strengths, weaknesses, opportunities, and threats (SWOT) analysis of your company and competitor that includes the following:
A 2×2 table listing at least 2 strengths, 2 weaknesses, 2 opportunities, and 2 threats to the company.
Content of paragraph 6: An explanation of which is the most important to your company and why: strength, weakness, opportunity, and threat
Content of paragraph 7: One marketing strategy that you are considering to focus on regarding your competitor and your company, which must include the following:
A combination of 2 variables from the SWOT analysis, such as the following:
Your competitor’s weakness and your company opportunity
Your competitor’s threat and your company strength
For example, if your competitor has a high-priced product, your company may create a promotional opportunity to discount your product price to appeal to customers with a price differential using the marketing mix p of price.
Content of paragraph 8: A conclusion of key findings in your competitive research, and your main objective on building your company s brands in the marketplace.
