SBMGSB101 Lecture Notes - Lecture 12: Swot Analysis, Cost Leadership, Competitive Intelligence

• School: Mohawk College
• Department: Small Business Management
• Course: SBMGSB101
• Professor: Gord Bereza

Document Summary

Direct (first level) competitor: a company that offers the same type of products or services. Indirect (second-level) competitor: a company that provides the same benefit to a target customer. Invisible competition: a business that has the same capacity or desire to provide the same products/services that you do. (people who duplicate your business idea) Competitive intelligence (ci): the process of learning collecting, and using information about your competitors for the purpose of growing your business. Competitive touchpoint analysis: a(cid:374)alyzi(cid:374)g (cid:272)usto(cid:373)er"s per(cid:272)eptio(cid:374)s of the (cid:272)o(cid:373)petitio(cid:374) to fi(cid:374)s out what benefits and features are important to them. (any contact your customer has with any aspect of your competition). Distinctive competency: unique features and benefits that attract customers and encourages customer loyalty. To s(cid:272)out your (cid:272)o(cid:373)petitio(cid:374), you (cid:373)ust look at the followi(cid:374)g . Suppliers, trade shows, competition literature, industry journal, resource center, trade magazines, industry internet analysis, company website, franchise information. Positioning: esta(cid:271)lishi(cid:374)g the (cid:373)i(cid:374)d of the (cid:272)o(cid:374)su(cid:373)er"s per(cid:272)eptio(cid:374) of the (cid:272)o(cid:373)pa(cid:374)y.