INTRODUCTION OF COMPETITIVE ANALYSIS COMPETITIVE ANALYSIS The competitive analysis is a statement of the business strategy and how it relates to the competition. The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle. The first step in a competitor analysis is to identify the current and potential competition. As mentioned in the "Market Strategies" chapter, there are essentially two ways you can identify competitors. The first is to look at the market from the customer's viewpoint and group all your competitors by the degree to which they contend for the buyer's dollar. The second method is to group competitors according to their various competitive strategies so you understand what motivates them. Once you have grouped your competitors, you can start to analyze their strategies and identify the areas where they are most vulnerable. This can be done through an examination of your competitors' weaknesses and strengths. A competitor's strengths and weaknesses are usually based on the
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INTRODUCTION OF COMPETITIVE ANALYSIS
COMPETITIVE ANALYSIS
The competitive analysis is a statement of the business strategy and how it relates
to the competition. The purpose of the competitive analysis is to determine the strengths and
weaknesses of the competitors within your market, strategies that will provide you with a distinct
advantage, the barriers that can be developed in order to prevent competition from entering your
market, and any weaknesses that can be exploited within the product development cycle.
The first step in a competitor analysis is to identify the current and potential
competition. As mentioned in the "Market Strategies" chapter, there are essentially two ways you
can identify competitors. The first is to look at the market from the customer's viewpoint and
group all your competitors by the degree to which they contend for the buyer's dollar. The
second method is to group competitors according to their various competitive strategies so you
understand what motivates them.
Once you have grouped your competitors, you can start to analyze their strategies
and identify the areas where they are most vulnerable. This can be done through an examination
of your competitors' weaknesses and strengths. A competitor's strengths and weaknesses are
usually based on the presence and absence of key assets and skills needed to compete in the
market.
12 Tips for Doing Competitive Analysis
1. Be a customer. Bring a notepad and pencil to competing establishments and ask a lot of
questions. Testing a firm's ability to serve you will reveal much about their business. And
don't just pretend to shop from competitors. Buy something. It's the only way to gain
first-hand experience with the company's products and services.
2. Find out as much as you can about the people who run competing businesses. Where
did they go to school? Where have they worked? How long have they been in the
business? What are their strengths and weaknesses? This information can help you
anticipate your competition's moves. For example, a local, life-long farmer will run an
Indiana seed company very differently than will a young MBA.
3. Buy stock in your competitors. If you're competing against a publicly traded firm,
consider buying a few shares of its stock. That way you'll receive regular updates on the
firm's financial results and business strategies.
4. Talk to your competitors' customers. Why do they buy from your competitors? Is it
because of the quality of the product or service, the price, the location, or the customer
support? What do they dislike about the company? What do they wish that company
would provide? Why don't they buy from you?
5. Use the Internet. Online services such as Dow Jones Interactive allow you to search
through thousands of publications for information about your competitors, especially if
they include large companies. Searches are free, but you'll have to pay a fee for articles
on Dow Jones or for a monthly subscription. You also can learn a great deal about
competing businesses simply by going to their Web sites.
6. Check public filings. As an entrepreneur, you already know that companies must
disclose information to government agencies. Such disclosures are required to undertake
public offerings, receive building permits, register for patents or trademarks and so on.
Many of those filings are public record and contain information about the company's
goals, strategies, and technologies.
7. Get to know local librarians. Many are virtuoso researchers and can save you a great
deal of time and effort. Your library also will have local publications that may have
information on competitors in your area.
8. Attend industry conferences and trade shows. Your competitors' representatives will
be pounding their chests about their firms' products or services. Take advantage of the
opportunity to familiarize yourself with their product offerings and strategies, and how
they sell themselves.
9. Assess the competition's goals. A competitor trying to increase its market share might
lower prices; a firm attempting to increase profits may cut costs; and a business that
wants to accelerate sales growth might kick off a marketing campaign. If you know your
competitors' goals, you'll be better able to anticipate their strategies.
10. Be aware of the potential for new competition. These days, the competitive landscape
can change faster than Net-stock valuations. A national chain may not have entered your
region yet — but what if it does? Likewise, companies that don't currently compete with
yours might shift their focus and pit themselves against your firm.
11. Don't delegate the job of keeping up with competitors. You might appoint someone to
work with you on the task, doing research and the like. But as the entrepreneur, you're in
the best position to appreciate and act upon information about your competitors.
12. Define the competitive landscape broadly. Your competition includes anything that
could draw customers away from your business. For example, movie theaters compete
not only with other cinemas, but also with restaurants, live music venues, theater —l even
cable TV, video rentals, and video games.
Elements of Competitive Analysis
Competitive analysis is the practice of analyzing the competitive environment in
which your business operates (or wishes to operate), including strengths and weaknesses of the
businesses with which you compete, strengths and weaknesses of your own company,
demographics and desires of marketplace customers, strategies that can improve your position in
the marketplace, impediments that prevent you from entering new markets, and barriers that you
can erect to prevent others from eroding your own place in the market.
There are several important elements of competitive analysis, each of which need
to be carefully studied if one hopes to transform competitive analysis activities into business
profitability. Major aspects of competitive analysis include the following:
DEFINING COMPETITORS.
"The first step [in competitive analysis] is to define your universe of competitors,"
wrote Sheiman, definitions and excessively narrow definitions of competition can compromise
the effectiveness of competitive analysis. Some businesses may offer products or services that
largely mirror those offered by your own company, while others may only dispense one or two
products/services that compete with your company's offerings. The business conducting the
competitive analysis has to decide whether latter examples of competition are incidental or
whether they present a potential threat (either now or in the future) to the business's financial
well-being.
OBJECTIVE OF THE STUDY
TATA LPT 3118 is an important product under the Medium & Heavy Comercial
vehicle, line of business .
To study and understand the performance of the product LPT 3118 among other 12 tyre
vechicle in the trichy territory.
To analyse a marketing activity of the product LPT3118 and AL3116,AL2214 activity
are analyse in varience of competitive method.
To study about the satisfaction level of customer margin with reference of TATA
MOTORS and ASHOK LEYLAND.
To study about the opinion of customer about overall performance of TATA MOTORS
and ASHOK LEYLAND.
SCOPE OF THE PROJECT
Trichy territory consists of major areas like Trichy, Karur, Tanjore, Tiruvarur,
Perambalur, Ariyalur, And Pudukottai.
VST Motors limited , is NO 1 dealer for TATA Motors In India is taking care of Sales in
trichy territory.
A brief study on product performance has to be carried out by collecting the data on
various parameters of performance like
fuel Mileage,
tyre mileage,
driver comfortness,
life of the aggregates,
finance availability for the product,
resale market for the product etc through questionnaire.
The purpose of the study is to weigh the level of competition and suggest suitable
strategies to the company in certain areas relevant to the product based on the study made
The sampling group has to be from all over the territory, the data collected to be
analyzed and appropriate recommendations are within the scope
COMPETITIVE ANALYSIS ABOUT THE PRODUCT
This is my topic, its fully based on performance & understand of the product
Calculating data from the existing customers in various performance of product
Competition list has to prepare for the product category
These are the list
Customer list
Mostly this project only based on for & against
But organization requirement from customer sides is “AGAINST”
Driver comfort ability about the product status;
“Customer satisfaction”
Finally analyzing report whether which is best and what have to improve for the TATA
Motors organization
RESEARCH METHODOLOGY
Research Methodology:
Research methodology is a way to systematically solve the research problem.
It may be understood as a science of studying how research is done scientifically. Thus it is
the various steps that are generally adopted by a researcher is studying his research problem
with the logic behind them. It has many dimensions and methods which constitute apart of
research & widens the scope of the research
Research design:
Research design is important primarily because of the increased complexity in
the market as well as marketing approaches available to the researchers. In fact, it is the key
to the evolution of successful marketing strategies and programmers. It is an important tool
to study buyer’s behaviour, consumption pattern, brand loyalty, and focus market changes.
A research design specifies the methods and procedures for conducting a
particular study. According to Kerlinger, “Research Design is a plan, conceptual structure,
and strategy of investigation conceived as to obtain answers to research questions and to
control variance.
TYPES OF RESEARCH :
Descriptive research:
Research that uses a set of scientific methods and procedures to collect raw
data and create data structures that describe the existing characteristics [eg: attitudes,
intentions, preferences, purchase behaviors, evaluations of current marketing mix strategies]
of a defined target population or market structure.
Questions and deciding the types of data to be collected and the procedure to be
used in this purpose. Descriptive studies can be divided into two broad categories: Cross
Sectional and Longitudinal Sectional. A cross sectional study is concerned with a sample of
elements from a given population. Thus, it may deal with household, dealers, retail stores, or
other entities.
Data on a number of characteristics from sample elements are collected and
analyzed. Cross sectional studies are of two types: Field study and Survey. Although the
distinction between them is not clear- cut, there are some practical differences, which need
different techniques and skills. Field studies are ex-post-factor scientific inquiries that aim at
finding the relations and interrelations among variables in a real setting
Such studies are done in live situations like communities, schools, factories, and
organizations Another type of cross sectional study is survey result, which has been taken by
me. A major strength of survey research is its wide scope. Detail information can be obtained
from a sample of large population .Besides; it is economical as more information can be
collected per unit of cost. In addition, it is obvious that a sample survey needs less time than
a census inquiry.
Descriptive research includes survey and fact finding enquiries of different
kinds of the major purpose. Descriptive research is description of the state of affairs, as it
exists at present. The main characteristic of this method is that the researcher has no control
over the variables; he can only report what has happened or what is happening. The methods
of research utilized in descriptive research are survey methods of all kinds including
comparative and co relational methods. The reason for using such needs to be flexile in its
approach, but a descriptive study in contrast tends to be rigid and its approach cannot be
changed ever now and then
DATA COLLECTION AND SOURSES:
SOURCES OF DATA:
Both primary and secondary data are used for this study. Primary data was
collected with the opinions and perception of the respondents.
Prismary data
Secondary data
Primary data:
Here the primary data collected from retailers with appropriate questionnaire method .
questionnaire through contact and phone calls.
Secondry data:
The secondary data that have already collected and published are referred through the
company sales guide and web sites.
RESEARCH PLAN:
Data source: primary & secondary
Research approach: survey
Research instrument: questionnaire
DETERMINATION OF THE SAMPLE PLAN AND SAMPLE SIZE:
A Specified group of people or objects for which questions can be asked or
observations made to develop required data structures and information’s.
SAMPLE:
A randomly selected sub group of people or objects from over all membership pool of a
defined target population.
Here the sample size is 80
AREA OF STUDY:
The data collected from the following areas in and around trichy,tiruarur, tanjore,
karur.
SAMPLING UNITS:
The sampling unit consists of the 80respondents in the district of
Trichy,tiruarur,tanjore,karur..
SAMPLING METHOD:
The type of sampling conducted is Random sampling based on the convenience.
SAMPLING SIZE:
The sampling size of one hundred respondents was decided taking into account the area of
coverage and time available for the study.
Data analysis and interpretation
1.Questionnaires
Statistical tools:
Chi square method
Percentage method
LIMITATION OF THE STUDY:
The survey was limitied to trichy, tiruarur, tanjore, karur district only.
The study covers only to variants of competing brands that includes TATA MOTORS
and ASHOK LEYLAND.
The respondents were less interested in answering the questionnaire ,as they felt that it
was an interruption to their regular work.
The number of respondents was limited to 100 only.
Some of the respondents are not open in giving their opinions.this is normal in any field
study.
The study is confined to Trichy, Tiraruar, Tanjore, Karur only. The study is based upon
the customer’s response.
The accuracy of the results of the study rests on the assumptions that the responses of the
respondents are true and correct.
LITERATURE REVIEW:
COMPANY PROFILE:
Tata Motors Ltd. (NSE: TATAMOTORS BSE: 500570, NYSE: TTM) is a
multinational corporation headquartered in Mumbai, India. Part of the Tata Group, it was
formerly known as TELCO .TATA Engineering and Locomotive Company. Tata Motors has a
consolidated revenue of USD 16 billion after the acquisition of British automotive brands Jaguar
and Land Rover in 2008.
It is India's largest company in the automobile and commercial vehicle sector
with upwards of 70% cumulative Market share in the Domestic Commercial vehicle segment,
and a midsized player on the world market with 0.81% market share in 2007 according to OICA
data. The OICA ranked it as the 19th largest automaker based on figures for 2007.and the second
largest manufacturer of commercialvehicles in the world. The company is the world’s fourth
largest truck manufacturer, and the world’s second largest bus manufacturer. In India, Tata ranks
as the leader in every commercial vehicle segment, and is in the top 3 makers of passenger cars.
Tata Motors is also the designer and manufacturer of the iconic Tata Nano, which at INR
100,000 or approximately USD 2300, is the cheapest car in the world.
Established in 1945, when the company began manufacturing locomotives, the
company manufactured its first commercial vehicle in 1954 in a collaboration with Daimler-
Benz AG, which ended in 1969. Tata Motors is a dual-listed company traded on both the
Bombay Stock Exchange, as well as on the New York Stock Exchange. Tata Motors in 2005,
was ranked among the top 10 corporations in India with an annual revenue exceeding INR 320
billion.
In 2004, Tata Motors bought Daewoo's truck manufacturing unit, now known as
Tata Daewoo Commercial Vehicle, in South Korea. It also acquired Hispano Carrocera SA, now
a fully-owned subsidiary. In March 2008, it acquired the Jaguar Land Rover (JLR) business from
the Ford Motor Company, which also includes the Daimler and Lanchester brands. and the
purchase was completed on 2 June 2008
Tata Motors has auto manufacturing and assembly plants in Jamshedpur,
Pantnagar, Lucknow, Ahmedabad and Pune in India, as well as in Argentina, South Africa and
Thailand.
History:
Tata Motors launches its first truck in collaboration with Mercedes-Benz
Tata Motors is a part of the Tata Group manages its share-holding through
Tata Sons. The company was established in 1935 as a locomotive manufacturing unit and later
expanded its operations to commercial vehicle sector in 1954 after forming a joint venture with
Daimler-Benz AG of Germany. Despite the success of its commercial vehicles, Tata realized his
company had to diversify and he began to look at other products. Based on consumer demand, he
decided that building a small car would be the most practical new venture. So in 1998 it launched
Tata Indica, India's first fully indigenous passenger car. Designed to be inexpensive and simple
to build and maintain, the Indica became a hit in the Indian market. It was also exported to
Europe, especially the UK and Italy. In 2004 it acquired Tata Daewoo Commercial Vehicle, and
in late 2005 it acquired 21% of Aragonese Hispano Carrocera giving it controlling rights of the
company. It has formed a Joint Venture with Marcopolo of Brazil, and introduced low-floor
buses in the Indian Market. Recently, it has acquired British Jaguar Land Rover (JLR), which