How can a company's marketing organization ensure that it is able to identify newly
emerging competitors in time to plan by doing research. A lot of companies turn to social
media and tv now a days. I am a business owner and I have gone to social media and have
put advertisements out for my company, I own a roadside assistance company. I know that I
have competition out there and so I have to set my rates at a competing rate so that I will get
the business over the other companies that are out there. Some of my business has been off
the advertisements that I have put out but most of my work is word of mouth and also, I
work for insurance companies and get my calls that way. Word of mouth is big for me, as
long as you are going quality work and have a good attitude and good to customers, they
will tell their friends and family and that is always a plus and help my company grow. I
work in the hospitality industry. Everyone has their own specifics that draw people to each
property. With hotels the biggest marketing strategy as with many other businesses is price.
Entangled in price is rewards. Each hotel has specific rewards design to attract repeat
business with the hopes of getting free nights and free upgrades. I feel that it is a waiting
game. Most of the time a brand will come out with a new marketing scheme, and then in
response to that other brands will come up with something similar yet slightly better to try
and beat the competition without hurting the profit margin to much.You need someone in
your company involved in social media, someone who is specifically hired and trained to
keep tabs on competitors and to let the upper management know when it is time to change a
policy or introduce a new idea to beat the competition!. A company can ensure that it can
identify newly emerging competitors in time to plan and execute an effective marketing
strategy by leveraging environmental scanning. Companies can conduct an environment
scan to identify trends based on the five environmental forces which include- social,
economic, technological, competition, and regulatory. By identifying trends through an
environmental scan, the connection between the trend and the environmental force can help
get a company's marketing team get in front of its competitors. The example that I would
like to use is the law passes in CA to move to a state of just selling all electric vehicles.
After that law was passed the increase for the auto industry to offer a form of an electric
vehicle has increased. We have seen a huge increase to go to electric, not just in CA, but
across the US. This law set in place a sort of domino effect in the auto industry, and most
cars not being promoted are in fact electric vehicles. Of course, hybrids and electric
offerings were not new to the industry, there was just a huge push in recent years due to CA
regulation. I believe that the media plays a huge role in marketing nowadays. Companies are
constantly paying attention to what goes on social media and tv. I remember it was around
the time of the Winter Olympics (can’t remember the year) Verizon put out a commercial
centered around the Olympics. It was these two skaters; a blue one which represented
AT&T, and a red one which represented Verizon. The two skaters were speed skating and
the skater that represented Verizon was faster while the at&t skater fell behind. I feel like
Verizon did this because they knew a lot of people would be watching the Olympics and if
they did a commercial centered around one of the sports, they knew that it would catch a lot
of people’s attitude. For this reason, bigger companies with competitors have to stay on top
of the media, otherwise their sales will go down along with their stock value. This is my first
marketing class so I am solely going off what little background I have from communication
classes prior to this one. a company's marketing organization can come up with strategies in
response to competitors by watching the market and now at least, checking social media.
There's so much information that is transacted on, shared and spread through social media
any marketing firm worth its chops would have to take advantage of it. For example we have
the few commercials between Apple and Samsung coming to blows and taking jabs at each
other. Spoofing the competition's own commercials is also a good way to call attention to
the competition and what your product can do much, much better. There is a certain more
recent example that comes to mind. With GMC releasing their Hummer EV soon, built into
the car itself on the info-tainment system, they have pictures of the car showing the Hummer
climbing over, crushing, and out speeding and doing donuts in the face of other EV trucks
when selecting modes. These kinds of playful jabs and Easter eggs hidden within a product
are genius especially in today's climate where everyone wants to over analyze and find stuff
like this. The best way for a company to identify newly emerging competitors is by
conducting environmental scanning. Environmental scanning shows organizations
information both inside and outside of their own and identify trends that may affect long-
term viability of the organization. One example of competitors would be the car industry.
There are so many car manufacturers all over the world who create cars. Nissan and Ford for
example are both competitors of each other because they both produce the same product
with only some slight varying differences. Same situation for makeup brands, smart phones
and so much more.
