Competitive environmental analysis in marketing planning

Competitive environmental analysis in marketing planning

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Competitive environmental analysis in marketing planning

What does competition mean?

Competition: the interaction between companies making products similar to, or can be substituted for a given business’s products in the same geographic area (Dibb et al, 2001).

To compete in the market, you should have strong competitive capabilities that help you in putting your marketing’s fingerprints in the heart and mind of consumers.

Competitive environmental analysis in marketing planning include the analysis of the following capabilities:

  1. Marketing Capabilities.
  2. Technical Capabilities.
  3. Management Capabilities.
  4. Production Capabilities.
  5. Innovation and design Capabilities “Company Capability Profile”.
  6. Financial Capabilities.

Related article: what are the internal environmental factors in marketing plan?

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