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NEW Glo-Bus - AC Camera and UAV Drone - Business Strategy - Understanding Products 09 - The Importance of the Competitive Factors that Determine Sales and Market Share

NEW Glo-Bus - AC Camera and UAV Drone - Business Strategy

New GLO-BUS — 2017 Edition

NEW Glo-Bus 2017 - AC Camera and UAV Drone - Business Strategy

Action-Capture Camera Design

UAV Drone Design - The Importance of the Competitive Factors that Determine Sales and Market Share   

NEW Glo-Bus 2017 - AC Camera and UAV Drone - Business Strategy

Action-Capture Camera Design

UAV Drone Design

The Importance of the Competitive Factors that Determine Sales and Market Share   

Just as in the real world, the 11 competitive factors for action cameras have differing impacts—some carry more weight than others in a company’s sales volumes and market shares in each geographic region.

As indicated above, the prices and P/Q ratings of camera rivals are the two most important competitive factors affecting buyer decisions of which camera brand to purchase. Moreover, buyer decisions to purchase one brand instead of another are more influenced by brand reputation, number models, number of retail outlets, advertising, the warranty period, and the size of promotional discounts than by differences in the length of promotional discounts, in retailer support expenditures, and in website expenditures.

The weight brand reputation falls somewhere in between the weights for the most and least important competitive factors. Similarly, the 9 competitive factors for UAV drones have differing impacts on which drone brands have more buyer appeal than other.

The prices and the P/Q ratings of rival brands are the two most important competitive factors affecting buyer decisions of which UAV drone brand to purchase. Furthermore, the brand preferences of drone shoppers are likely to be more influenced by such competitive factors as brand reputation, the number of models, and warranty periods than they are by search engine ads and the efforts of rival companies to enhance their websites (where many sales transactions occur) and market their drones at the websites of other online electronics retailers. The weight brand reputation falls somewhere in between the weights for the most and least important competitive factors    

 

Analyzing the Effects of the Competitive Factors.

The weighting placed on the 11 competitive factors for action cameras and the 9 competitive factors for drones closely mirror what is believed to actually prevail in real-world marketplaces.

While knowing precisely the weighting used for each competitive factor might seem helpful, such knowledge is not as useful as you might think. Price is most definitely a very important competitive factor.

Big price differences in a region matter a lot in accounting for differences in sales/market share. But as the spread between the highest-priced   company and the lowest-priced company becomes smaller and smaller, the weaker is the unit sales/market share impact of price differences and the greater is the role of the differences on other competitive factors in causing the sales and market shares to differ.

For example, in the rare instance that all companies should happen to charge the same price in a region, then price becomes a total competitive non-factor and has zero impact on buyer appeal for one brand versus another—in such a case, 100% of the regional sales and market share differences among rivals would stem directly from differences on the other competitive factors.

So how much price matters in determining a company’s unit sales/market share in a region is not a fixed amount but rather is an amount that varies from “big” (when price differences are also “big) to “small” (when prices differences are “small”) to “zero” (when the prices of rivals are identical). Precisely the same is true for the other competitive factors.

So while it is true that some competitive factors affect buyer brand preferences more than others, what matters most in determining sales and market shares is the sizes of the differentials on each competitive factor.

Big differences on a less important competitive factor like the length of warranty periods can end up having a bigger sales/market share impact than very small/insignificant differences on more important competitive factors (like price and P/Q rating).   

Essential understanding: The more that a company’s brand appeal to buyers on any one competitive factor (whether it be price, P/Q rating, brand reputation, number of models to choose from, length of warranty, and so on) is above/below the industry average in a region, the bigger is the weighting/impact of that factor in accounting for why its regional net sales/market share is above/below the industry average.

Conversely, the closer to the industry regional average is a company’s price or P/Q rating or brand reputation or number of models and so on, the smaller is the weighting/impact of that factor in accounting for why its unit sales/market share is above/below the industry average. When a company’s competitive effort on each of the various competitive factors approximates the industry averages in a region, then its resulting unit sales volume/market share will also approximate the region’s industry average.

So which particular competitive factors actually turn out to be most important all depends on how that company’s competitive effort stacks up against the industry average competitive effort, factor by factor.

All unit sales and market share outcomes in all regions are thus 100% competition-based and are a function of the size of each company’s competitive advantage or disadvantage versus the industry averages for all the competitive factors.

Special Note: After each decision round, you can review a Competitive Intelligence Report (1- page for each geographic region) showing each company’s competitive standing versus all other companies in the industry on each of the competitive factors for action cameras and UAV drones.

It is imperative that you review this information to determine how well your company’s competitive effort on each factor compares to the industry averages—on which factors does your company have a competitive edge and on which factors is your company at a competitive disadvantage?

This information puts you in position to correct any important competitive disadvantages and to consider ways to further exploit any competitive advantages in the upcoming decision round. Ignoring the information in the Competitive Intelligence Reports puts your company in the risky position of heading into a market contest with little or no clue as to competitors’ prices, P/Q ratings, brand reputations, models, warranties, and so forth and the extent to which your company is being outcompeted by rivals   

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