TCI Competitors

According to Porter (2013), competitive strategy is used to assist company to have an effective cost in the production and profitable. Besides that, it is to maintain or enhance the position of company in the market by determine competitors of industry. The competition among is good for customers because each company would make an efforts to increase performance in the market like innovations, creativity, and also offer customers additional value which make difference from other company. His frameworks consist of five elements which are shown in figure 1below.

Competitor analysis is a serious part of the organization therefore; Target must identify and address all issues pertaining to the business. Target must pinpoint the tangible competitors, and substitutes, evaluate opponents’ objectives, strategies, strengths and weaknesses, and opportunities and threats, and uncover what opponents Target should take on or stand clear of. Therefore, Target must analyze the company’s economic, sociocultural, technological, political, and future.

6. Competitor analyses – discuss key competitors and their key strengths, weaknesses and are they major threats to the firm - briefly explain.

Competition being one of the major issues that often must be addressed in the business world, it is important for a firm to learn on ways to reduce the impact of the competition. Competition is definitely an important factor in helping a business

Companies often use a (CPM) – Competitive Profile Matrix to better understand their external environment as well as their competition within the industry they operate. The matrix identifies a company’s key competitors and draws a comparison using the industry’s critical success factors. The analysis also reveals a company’s strengths and weaknesses against its competition, making them aware of problematic areas needing improvement and also areas that are doing well and need to be protected (See Appendix F).

To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry. The company should develop a strategic advantage over their competitors’

Identify and describe the company’s competitors, as well as analyzing relevant information such as market share or number of customers in relation to your chosen business. Discuss and report on the opportunities and threats that this creates?

come some way. Its benefits were long understood in Germany as far back as the

 In general, manager’s look at competition has been too narrow. There is a broad set of competitors that need to be looked at, which are described in “The Five Competitive Forces That Shape Strategy” by Michael E. Porter. The model explains that there are several other forces in the competition for profits that the strategist should be aware of when forming a stagey. Those forces determine the profitability of the industry and are the most important to look at when you are forming a strategy. These five forces are are the “industry structure” model which contain: New Entrants, Suppliers, Buyers, Substitutes, and Existing Competitors.

They must also gain strategic advantage by positioning their offerings strongly against the competitors’ offerings in the minds of consumers. To plan effective competitive marketing strategies, the company needs to find out all it can about its competitors. It must constantly compare its products, prices, channels and promotion with those of close competitors. In this way the company can find areas of potential competitive advantage and disadvantage. Also, it can launch more effective marketing campaigns against its competitors and prepare stronger defenses against competitors’ actions.

Competitive analysis is an important part of your business plan, there are a lot of different alternatives in the market, costumers usually look for different sets of values to focus on, benefit levels and what does the item include when they are choosing where to buy the product from. Even though costumers usually choose similar products to those alternatives, and that’s where competition is created.

The competitive environment : competition from the industry can impact a company’s strategy and operation. For example if a competitor release a new or similar product that threaten to steal market share, an organization must be ready to change in order to retain its

Now you’ve decided to begin performing competitor analysis it’s time to learn the best tools in the

According to Michael Porter, “a company strategist who understands that competition extends well beyond existing rivals will detect wider competitive threats and be better equipped to address them” (Porter, 2008, p.16). Thinking comprehensively about the structure of the industry as well as its customers can afford companies the ability to obtain superior performance. Therefore, it is key for companies to focus on how to maintain existing customers as well as lure new ones.

Competitor analysis can be related to strategic management and also in the pension industry it’s assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.