Marketing competitive analysis is a vivid description of the company’s major competitors on the basis of issues that determines the direction of flow of the revenues. It is based on a thorough survey of the market that would enable one to infer the major industries threatening the services of the concerned organization in the market share and an in depth study of their marketing strategies so that the firm may be able to frame their plans accordingly.
Sample Marketing Competitive Analysis
Name of the Organization conducting the analysis: Exotic Travels Private Ltd.
Major Competitors: Nature Travel Agency, Tourist’s Paradise Travels, Homely Travel Company, Joy trip Tours.
Marketing Competitive Analysis:
Host Competitor A B C D
Organization Size: 56 staffs 60 staffs 42 staffs 36 staffs 63 staffs
Market Share: 563$ 865$ 432$ 364$ 923$
Growth: 43% 56% 35% 28% 69%
Funding: Self Federal aids Collective shares Self State, sponsors
Target Markets: Youth Family (all ages) Professionals Family Youth
Marketing Strategy: Innovative Traditional Target oriented Traditional Creative
Strengths: Reputation Media Coverage Connections Reputation Freshness
Weaknesses: Low flexibility Efficiency Conventional Low staff Reputation
- The threats posed by the above mentioned competitors should be heeded and proper strategies should be adopted to address those problems.
- Perks and incentives like better lodging, airline and fooding facilities should be offered to attract customers.
- The range of the target customers may be increased. Special packages may be designed for specific customers in order to trigger growth of the company.
- The prices should remain under affordability range of the masses. Since the target customers are youth, special plans may be designed to cater to students and young tourists.
- Investment must be done in advertisement, media and industry connections must be built to foster growth.
- Since the company’s reputation is one of its major strengths care must be taken to see that quality services are rendered and its name is not salvaged.