Competitive analysis on sum sang galaxy s8
Student Name
Affiliation
Professor
Course
Date
Competitor analysis is a procedure that an organization tends to advance the definition and understanding of its industry by pinpointing its competitors, defining the strengths and weaknesses of their rivals, demographics and forestalling their intended moves. Thus it includes the competitor’s intelligence to gather data on their rivals and analyze as well as interpret data for strategic decision making to prevent the rivals from eroding the organization in its market place. Competitor analysis skills is the center of strategy as competitor’s activities determine the failure or success of a company. External analysis gives the perspective by pinpointing the overall and manufacturing issues that may impact on sum sang. Competitive analysis emphases on the exact competitive market as well as the competitors within that market (Aaker 2001).
Competitive analysis on sum sang galaxy s8 is essential to the mobile industry since competition will help to define sum sang galaxy s8 market position and get benchmarks as well as determine the revenue and profitability prospects. Doing this analysis shall help sum sang to: Increase the service they provide, reduce cost, increase efficiency as well as Increase in the variety sum sang products. In addition this will act as a guiding competition from unfriendly competitors, new organizations entering markets and Changes in perspective concerning competition as well as knowing what Barriers to mobility are within the organization
Elements of competitive analysis include the following:
Definition of competitors compromises the effectiveness of competitive analysis. Sum sang galaxy s8 competitors include iPhone 8, LG that is planning to launch an LG6 phone.
A company should do an analysis of competitor strengths and weaknesses (Aaker 2001). .
The objective features of sum sang product is relatively a small part of the competitive picture. Apart from identifying the components of customer preference, such as price, service, and location, there is also the need to examine internal strength of sum sang galaxy s8 competition companies. Generally, companies that have major financial resources, highly motivated personnel, and other operating assets will prove to be tough, continuing the competition.
A swot analysis should be carried out to outline the main advantages the competing businesses have in the realms of invention management, service reputation, marketing, as well as other aspects of business operation. It will also outline the strategic weaknesses the competing firms have within the same areas (Manning & Bodine, 2012).
SWOT Analysis on Samsung and its competitors:
Strengths of Samsung
There is always a new product concept that rolls out in five months hence grasping the consumers pulse, providing good designs & appreciating Emotions large venture in technology, creating design, and the work force focuses on innovative products for the high-end market, As compared to its competitors that have backwards technology compatibility
Weaknesses
Samsung is has Not been pro-actively coming out with newer models often. They Lack differentiation of product as they have various models at categorized price points which focuses on mass market instead of niche markets that are less user friendly designs,
Opportunities
Samsung has always distinguished its service from competitors. They offer various products as the demand for cell phone driven by service providers can be rated relatively equal to service providers hence lowering the price of a phone with 20% in most countries can increase its affordability by 43% from a research.
Threats
Sum sang faces Challenge from low cost mobile manufacturers on front pricing for instance, The dominance of Motorola a competitor and the popularity of Nokia in the US and European markets respectively controls more than half of the world market aggressive competitors such as Siemens, Sony counting in for share as it does not keep track of new trends within the market as an accessory and fashion report (Manning & Bodine, 2012). In addition there is the Threat on build quality and design from higher end mobile manufacturers.
References
Aaker, D. A. (2001). Developing business strategies. New York: J. Wiley & Sons.
Manning, H., & Bodine, K. (2012). Outside in: the power of putting customers at the center of your business. Boston: Houghton Mifflin Harcourt.
