Competitor analysis is an important focus to marketers. The three steps in analyzing competitors include, identifying the company’s competitors. Secondly, Assessing competitors; objectives, strategies, strengths and weaknesses, and reaction patterns. Lastly, selecting which competitors to attack or avoid. When analyzing competitors, marketers have to find out the competitors past and current strategies, its strengths and weaknesses, potential threats, and opportunities that might be available. Competitor analysis also includes environmental scanning. Scanning the environment for current and future trends is also part of a marketer’s job when doing competitor analysis.
http://pdlny.lefora.com/2011/11/14/levis-commuter-wear/
For my teams marketing project we analyzed DZR Shoes competitors. We identified its main competitors being Zeen, Giro, and Shimano. While doing our research we found Zeen had many advantages and disadvantages. Although Zeen is a direct competitor it did not offer fashion-forward shoes like DZR, on the other hand Zeen did provide a wide variety of shoes unlike DZR. We discovered a new trend that is both an opportunity for DZR and a threat. There are many new and existing clothing companies that are introducing fashionable, bike-friendly clothing lines which will compliment DZR Shoes. Giro and Shimano pose a big treat to DZR if they decide to produce fashionable casual spd’s based on the new bike fashion trends since they are big brand names.
Direct competitors are not always the focus when doing competitor analysis. There are external factors that play a big role in competition. For example DZR Shoes may be focusing on its direct competitors when there might be external factors such as other casual shoe companies like Nike that might come out with a new shoe line that are SPD compatible. Other factors may include new companies introducing an easier way to attach shoes to biking pedals. This is why a thorough analysis of competitors and external threats is essential for every business.
Marketing Portfolio 