Unit 2 - Market Strategic Analysis and Competitors

Market Segmentation Types

Demographic, Psychographic, Behavioral, Geographic.

Buyer Persona

A detailed description representing a target audience, based on research of existing or desired customers.

Market Mapping

Visual strategy to organize competitive information (e.g., revenue, growth rate) to understand industry trends.

SWOT Analysis

Evaluates Strengths, Weaknesses (internal), Opportunities, Threats (external) for strategic planning.

PESTLE Analysis

Assesses Political, Economic, Social, Technological, Legal, Environmental external factors impacting business.

Porter's Five Forces

Threat of New Entrants, Supplier Power, Buyer Power, Substitute Threat, Industry Rivalry.

S-T-P Approach

Segmentation, Targeting, Positioning; a framework for market gap identification.

Market Segmentation Benefits

Stronger messaging, targeted ads, niche opportunities, deeper customer affinity.

Market Mapping Variables

High/Low Price, Quality, Tech, Convenience, Health, Necessity/Luxury, etc.

SWOT Internal Factors

Strengths (advantages, capabilities) and Weaknesses (gaps, constraints).

SWOT External Factors

Opportunities (market trends) and Threats (competitors, regulations).

PESTLE Business Impact

Examples: Trade barriers (Political), Currency inflation (Economic), Cultural norms (Social).

Porter's Five Forces Source

Porter, M.E. (2008). The five competitive forces that shape strategy. Harvard Business Review.

Market Mapping Demerits

Subjective, 2D-limited, may lack statistical accuracy.

Market Mapping Merits

Visual snapshot, direct competitor comparison, quick market analysis.