Business Model

ENES672

10-11-20

Major Competitor

My main competitor is TBSB and ESPN; this is because they ate broadcasting networking channels that offer the kind of services as l do, i.e., from capturing live marches to making sure the customers can be fully satisfied comes to sports entertainment. TBSB, one of my major competitors, has identified some of the gaps that were available in the industry, and they have also come up with their own kinds of solutions to address those needs. These competitors also have a good market share when it comes to the number of customers, and that is one of the major challenges we have to overcome so that we can have a strong foothold in the sports industry market. Current customers are also more familiar with the kind of products and services they offer. By identifying who my major competitor, I can conduct a proper SWOT analysis for the business (Kamzabek, 2020). This will allow me to know whether the strategies I have put in place are effective for my business growth or not.

Direct or indirect competitors

These two competitors, I can say that they are direct competitors; ESPN is a competitor who has not fully got into the use of technology to improve their customer experience and satisfaction. They only offer the basic form of a broadcasting network that has not fully integrated modern technology in their broadcasting and identifies talents as early as possible. On the other hand, TBSB is more of a stiff competitor who has realized the kind of opportunities present in the market and has come up with their own form of solutions to ensure they take the biggest share of market share.

Competitor’s history

TBSB, which is more of a stiff competitor than ESPN when it comes to using technology, offers viewing opportunities for D1-D3 lovers, specifically American football. NCAA is an industry worth billion-dollar and has been able to turn young people into athletic legends; globally, people normally tune in to watch NCAA's championship and all the march madness that comes with it. But the lovers of football, as seen by TBSB, were not fully satisfied by this events, so what it did is that it saw the kind of opportunities that were available there and drafted necessary solutions to fixate those problems and that is how TBSB come about when it comes to their history.

Similar problem discovery

The competitor was able to discover similar problems as ours; it had realized that the main problem this industry faced was customer unsatisfactory. The other networks did not allow the players and their fans to develop an interpersonal connection and also be able to show their personal normal side when they off the pitch. It realized that the networks only showed plays that were powerful and left out other parts that really mattered to the sports fans, such as replay of the games played or segments that related to the players and their teams. This made customers lack adequate information hen it comes to their favorite sports and players.

Time dilemma and congestion in parking spaces and charging high ticket prices for fans who bought their ticket on a resale basis were part of this network's problem. Players also wanted an opportunity to watch the marches of their friends who were also players. Since they played simultaneously, it was somehow impossible for them to do so, and that was also another problem that had presented itself. In short, my main problem was a customer not being satisfied with the services being provided in that industry, and this is also the same problem that TBSB had identified to be its main problem; therefore, we had similar problems.

Same solutions

In addressing some of the problems above, TBSB also was able to develop an application that the customers would use so that they can view the sports events whenever they felt like. This was a similar solution such as mine, where I had built an app that players would use to watch the games of other players using an application. The app would also be able to offer other variety of services such as creating an interpersonal connection between the players and their fans; they would also be receiving accurate information concerning scores, player stats, and any other relevant information related to this sports industry

Competitive strength and weaknesses

Our competitive strength would be leadership and product innovation; this can clearly be seen when we were able to come up with a virtual reality solution in scouting amateur players in college. We were able to act as leaders by introducing virtual reality in recruiting players, which later ended up being accepted not only during player scouting players but also in training players to become better in the field. Product innovation was developing an app that would offer a wide variety of services that would suit all stakeholders' needs. One of our weaknesses as a company is the poor brand image; this is because we are still new in the market and many of our target customers are not yet accustomed to some of the things we offer or even produce (Dimkow, 2018). Therefore we are trying to work extra hard to ensure our customers are fully aware of our offering.

On the other hand, our competitors are enjoying the fact that their brand is fully known by their customers, giving them a competitive advantage in terms of activities we come up with as a business, which is one of their main strengths as our competitors. On their weakness, our competitors have not fully addressed the gap of congestions in the stadiums and high ticket prices. Compared to us, we have brought out the solution of an HD tv where people who have not been able to access the stands can watch the game without paying high ticket prices to watch the marches.

Pricing

The pricing offer that the competitor is using is promotional pricing, where customers are given a chance to win prizes from the raffles.

Marketing approach

The competitors are using direct marketing channels where they use their app to promote and market their product by ensuring users win a different kind of prices through the raffles offered on a weekly and daily basis.

Marketing pitch and strategy

The marketing strategy the competitor is using is a promotional strategy, where it is doing sales promotion by allowing teams to use the apps to offer raffles to its customers. The marketing pitch it uses is by giving customers a chance to customizing the app the way they like it (Morgan et al., 2019).

Overcoming their advantages

I can overcome these advantages by sponsoring a march and awarding the winners of that march; this would help reach the community and practice corporate social responsibility. Community members will know that I care about them. I will also be able to advertise my product during that particular time.

Acquirers

The companies that am competing with are acquirers; this is because they have the financial advantage and market share. To avoid this scenario, I would put up a research team to develop a product that would change the whole market trends and use a penetration strategy to lock into the market fully. The product I have come up with is fully identified by my company (Ai & Tan, 2017).

References

Ai, Q., & Tan, H. (2017). Acquirers’ prior related knowledge and post-acquisition integration. Journal of Organizational Change Management.

Dimkow, S. (2018). Collaboration with Competitors in Business Networks. The International Entrepreneurship: Trends, Challenges, Achievements, 95.

Kamzabek, T. B. (2020). WHEN COMPETITORS MATTER?. Suleyman Demirel University Bulletin: Social Sciences, 52(1).

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Journal of the Academy of Marketing Science, 47(1), 4-29.