Week8 - Competitive benchmarking and learning from competitors.

Question 1

How to benchmark against competitors?

Answer 1

1. Assess competitors’ current & future obj.
2. Assess competitors’ current strategy.
3. Assess competitors’ resource profile.
4. Predict competitors’ future strategy.

Question 2

How to analyse successful competitors? (Learning from competitors) .

Answer 2

1. Analyse successful competitors.
2. Why are they successful? (What strategies, marketing, internal resources, etc?).
3. Copy and improve on them.

Question 3

How to analyse unsuccessful competitors? (Learning from competitors).

Answer 3

1. Analyse unsuccessful competitors.
2. Why are they unsuccessful? (What strategies, marketing, internal resources, problems, etc?).
3. Adopt and overcome these pitfalls.

Question 4

How analyse other industries and markets?

Answer 4

1. Look to other industries and markets.
2. What can you adapt and use? (Strategies, marketing campaigns).
3. Adopt and adapt best practise.