What is Marketing?-Secret Definition (Part 2/2): (Series 3)

In the previous part, we discussed half of the marketing definition, where we discussed mainly,what is customer analysis. Today,Kimberly and Eric will discuss competitor analysis.Please bear in mind, both customer and competitor analysis, can be discussed in greater detail in upcoming marketing cartoons. It’s just a brief, to give you an idea, a glimpse of marketing.

Cartoon: What is Marketing? – Secret Definition (Part 2/2)

It’s just a fundamentals of marketing. So consider it like that. People who are new to marketing education might have host of questions. Please use comment box at the end of this page for discussion.

Any suggestions, comments or questions? Let me know in the comments below! I would love to hear from you.

I read every single comment!

Script:

Kimberly: Help me!

Eric: You look awful! What happened? Did you get your customer?

Kimberly: I was successful to satisfy my customer! But that bloody competitor! He was so strong.

Eric: So, what have you learned?

 

Open Me (to read complete script)

Kimberly: Oh! Don’t ask!

Eric: O C’mon, Kimberly.

Lessons:

Kimberly: I learned that he has a history of strong customer base.

Eric: It means, you cannot switch his customers directly!

Kimberly: He could lower down his doughnut price to throw the new store’s owner out of business.

Eric: It means, engaging the price war is not usually feasible.

Kimberly: And quality? Quality was not an issue for him. He could make a tastier, even, quality doughnuts perhaps by steeling the recipe.

Eric: So, quality is easier to copy. You’ve nothing to attract customers.

Eric: And what was customer’s response?

Kimberly: Oh!He was terrible! He said: (in flashback) “You’re right. I don’t want to get CONFUSED. It’s better to stay with TRUSTED store, like yours. I don’t have TIME to try NEW things either!”

Kimberly: Er, I wanna kill him and eat him!

Eric: So, now you know, why competitor analysis is important and why customer analysis is usually not a big problem.

Generally, the problem is not customers.

Most of the time, the problem is competitors.

Most of the brand, doesn’t get failed in the marketplace because they could not satisfy their customers.

Most of the brands get failed, because they could not understand and beat their competitors.

The fathers of, Positioning concept, Al Ries and Jack Trout, write in their book, Marketing Warfare:

…Today every company is customer-oriented. Knowing what the customer wants isn’t too helpful, if a dozen other companies are already serving the same customer’s want…

To be successful today, a company must become competitor oriented. It must look for the weak points in the positions of its competitors and then, launch marketing attacks against those weak points.

 

Kimberly: Previously, you told me some questions regarding customer analysis. Do we have questions as an example for competitors analysis too?

Eric: Yes, you can do competitors analysis by asking following type of questions, like:

Competitor Analysis:

Who are our key competitors?

What are their strength and weaknesses?

What are their strategies?

What are their objectives?

Kimberly: So, that’s it? Now I’ve fully discussed marketing definition? Let me go and start doing customer and competitor analysis! Let me go and start doing customer and competitor analysis!

Eric: Do not rush! There’s something else you need understand other than marketing definition, if you do not get it. You’ll get failed your product!

Kimberly: Okay! I know you’ll not spare me like that!

Eric: Not a problem! You can go. I’m too busy anyways! Oh look! I’ve got a phone call!…Lala laa…

Kimberly: O c’mon! I’m sorry!

Eric: Now that’s like a good girl! We need to discuss many topics of marketing. Yet, the most important topic without which you can’t proceed is: Consumer’s perception and Brand Positioning.

WHAT NEXT?

The list of marketing terminology or jargon.

We’ll be discussing without which marketing is almost not possible, Brand Positioning.

 

 

Reference books: At this stage, I recommend you to read following books.

Yes, you can always ask questions from these books too. The list will keep on increasing with more upcoming posts.

(The more you read, the more you’re capable of generating ideas)

 

Subscribe now to www.KamilAli.com to get all episodes.

 

What is Marketing Part 2

 

Did I miss something? Got ideas what more I could explain? Any suggestions, comments or questions? Let me know in the comments below! I would love to hear from you.

I read every single comment!

Comments

comments

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  • http://twitter.com/Manny_mz Muneeb Umer

    al ries n jack trout’s statements  made you competitor analysis point completely valid
    the good thing is that you also verify your statement from world’s marketing guru and also suggest books for future references

    • http://www.kamilali.com/ Kamil Ali

      Yes Munneb! Sometime I do. So that people confidently follow the thought I gave them. 
      Thanks for your comment!:)

  • Ali Ayyan38

    thanx kamil for giving me such a wonderful information…please tell me some material upon marketing concets i need it badly and also some examples…please i will b thankful to you

    • http://www.kamilali.com/ Kamil Ali

      You’re welcome Ali!

      If you’re a subscriber you will get marketing concepts and cartoons regularly
      Join here, if you haven’t done so: http://www.getresponse.com/site/kamilali/webform.html?wid=71643

      All the best!