Explain three variables a firm should consider when analyzing potential threats posed by competitors
What will be an ideal response?
In general, the firm should monitor three variables when analyzing potential threats posed by competitors:
1. Share of market—The competitors' share of the target market.
2. Share of mind—The percentage of customers who named the competitor in responding to the statement, "Name the first company that comes to mind in this industry."
3. Share of heart—The percentage of customers who named the competitor in responding to the statement, "Name the company from which you would prefer to buy the product."
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Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. Since 1992, his designs have incorporated the shiny, red-lacquered soles that have become his signature
These red-lacquered soles and high stilettos of Louboutin distinguish him from other designer shoe brands. In accordance with the BrandAsset® Valuator model, which of the following components of brand equity has Louboutin fulfilled in this scenario? A) energized differentiation B) relevance C) esteem D) knowledge E) advantage
The percentage-of-sales method leads to a budget set by market opportunities rather than by the availability of funds
Indicate whether the statement is true or false