Competitive Analysis

Marketing Strategy                                 

Competitor means any person or entity which is a rival against another.  In business, it is a company in the same or a similar industry which offers a similar product or service.

Every business has competition. Even a small business needs to compete with much larger companies. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share.

Any business plan needs to provide full details about its competitors. The purpose of the competitive analysis is to determine and understand the strengths and weaknesses of the competitors and their position within the market.

Strategies that will provide a business person with a distinct advantage, the barriers that can be developed in order to prevent competition from entering his 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. It also forms an important input into the process of identifying and selecting strategic alternatives.

One approach is to attempt to exploit a competitor’s weakness in an area where the firm has an existing or developing strength. Acknowledging competitor strength is also important so it can be bypassed or neutralized.

The marketing strategist should concentrate upon sales, market share, cost and profit levels and how they appear to be changing over time.

Knowledge of a competitor’s weaknesses can often be used to great advantage by an astute marketing strategist.

Aiyan Thiruvalluvar says

நெடும்புனலுள் வெல்லும் முதலை அடும்புனலின்

நீங்கின் அதனைப் பிற. (495)

गहरे जल में मगर की, अन्यों पर हो जीत ।
जल से बाहर अन्य सब, पावें जय विपरीत ॥ (४९५)

Explanation by Scholars: 

In deep water, a crocodile will conquer all other animals. But if it leaves the water, other animals will conquer it.

தண்ணீரில் இருக்கும் வரையில்தான் முதலைக்குப் பலம்.   தண்ணீரை விட்டு வெளியே வந்துவிட்டால் ஒரு சாதாரண உயிர்கூட அதனை விரட்டி விடும்.

Smile Marketing

Marketing Strategy                            

The main objective of any organization focuses on maximizing the profit irrespective of a small or large enterprise. Retaining existing customer as well as attracting new customers is a major source of profit maximization. There are different categories in customers like dissatisfied customers, satisfied customers and delighted customers.  Making dissatisfied to satisfied, satisfied to delighted mainly lies in the hands of the employees. When a customer is lost everything is lost.

When a customer calls or walks into a business they may be happy, anxious, worried, lost, angry, frustrated or excited. Many customers go in to a business for the first time actually expecting things to go bad. Some even get ready for battle before heading off. A friendly greeting immediately disarms the person and sets them at ease. It sets the tone for the rest of the interaction. No matter what the customer’s emotional state, this will make things better.

This is probably the single most important point for anyone working in any position where they greet customers. Customers want to hear words of greeting and see a smile. Word of mouth is one of the best marketing techniques widely applied in many organizations. The positive word of mouth advertisement is very important for winning new customers and maximizing the profits.  The negative word of mouth will totally spoil the brand image of the organization which not only lead to decline in the profits but it may even take it to the level of closure of the business enterprise.

The value added to be considered is a pleasant smile, cheerful face mannerism and orderly behavior.  It is also very essential to keep up your promises and fulfil the customer's needs. Pleasant smile, cheerful face mannerism costs nothing, easy to implement and can reap big rewards.

Aiyan Thiruvalluvar says

அகன்அமர்ந்து ஈதலின் நன்றே முகனமர்ந்து

இன்சொலன் ஆகப் பெறின். (92)

मन प्रसन्न हो कर सही, करने से भी दान ।
मुख प्रसन्न भाषी मधुर, होना उत्तम मान ॥ (९२)

Explanation by Scholars: 

Sweet speech, with a cheerful countenance is better than a gift made with a joyous mind.

முகம் மலர்ந்து இனிமையாகப்  பேசுவது, அகம் குளிர்ந்து ஒன்றைக் கொடுப்பதை விட மேலான பண்பாகும்.

குறள்

பணிவுடையன் இன்சொலன் ஆதல் ஒருவற்கு

அணியல்ல மற்றுப் பிற. (95)

मृदुभाषी होना तथा, नम्र-भाव से युक्त ।
सच्चे भूषण मनुज के, अन्य नहीं है उक्त ॥ (९५)

Explanation by Scholars: 

Humility and sweetness of speech are the ornaments of man. All others are not (ornaments).

அடக்கமான பண்பும், இனிமையாகப் பேசும் இயல்பும் தவிர, ஒருவருக்குச் சிறந்த அணிகலன் வேறு இருக்க முடியாது.