Markets and

Competitive Space
(2/2)
Describing and Analyzing End Users
Identifying and
Describing Buyers

Building Describing and How Buyers

Customer Profiles Analyzing End Make Choices
Users

Environmental
Influences
Identifying and Describing Buyers
 Illustrative factors in consumers markets:
1. Family size
2. Age
3. Gender
4. Income
5. Geographical location
6. Occupation

 Illustrative factors in organizational markets:

1. Type of industry
2. Company size
3. Location
4. Types of products
Profile of the Russian Middle Class
How Buyers Make Choices
 Buying Decision Process:

1. Problem recognition
2. Information search
3. Alternative evaluation
4. Purchase decision
Environmental Influences
 External factors influencing buyers’ needs
and wants:

 Government, social change, economic shift,

technology etc.

 These factors are often uncontrollable but

can have a major impact on purchase
decisions
Building Customer Profiles
 Describing customers start with generic
product market

 Move next to product type and variant

profiles >> increasingly more specific

 Customer profiles guide decision making

(e.g. market segmentation, targeting,
positioning, etc.)
Analyzing Competition
Define the Competitive Arena for
the Generic, Specific, and Variant
Product-Market
Identify Identify and
Potential Describe Key
Competitors Competitors

Analyzing
Competition

Anticipate
Evaluate Key
Actions by
Competitors
Competitors
Example of Levels of Competition
Industry Analysis
 Industry analysis is a market assessment tool used
by businesses and analysts to understand the
competitive dynamics of an industry.

 There are three types of industry analysis:

1. Competitive Forces Model (Porter’s 5 Forces)

2. PESTEL Analysis
3. SWOT Analysis