QUARTER II

Chapter 3.
3.1 PRINCIPLES, TOOLS,
AND TECHNIQUES
A. COMPETITION - PRINCIPLES

Competition Is The Quest For Achieving Superior Results, The Best

Results In A Specific Field, In Business, In Sports, Or In Social
Activities, The Best Results Compared To Others.

Competition Is The Fight For A Limited Resource, For A Prize Or For

An Award. The Fighting Around Abilities And Skills Often Takes
Place As A Somehow Organized Contest With Rules That Are Agreed
Upon To Be Followed In Order To Accurately Measure The Results.
Other Competitions Are Based On Rivalry - Two Parties Are Fighting
To Dominate A Market, Or They Are Fighting For The First Place In A
Race In Sports, Or In Science.
 A. COMPETITION – TOOLS

Comparing Your Business To Competitors Is A Great

Way Of Seeing Where You Are In The Market. For
Example,

Who Is Your Biggest Competitor?

Is Their Customer Growing Faster Than Yours?
Do They Have Rge Majority Of The Market?
How Does Your Market Sgare Compare?
 A. COMPETITION – TOOLS, cont.
Typically, companies have relied on swot methods for competitor
analysis – strength, weaknesses, opportunities, and threats. It’s a great
way of pinpointing internal and external factors that affect your
company. You can find threats, work on weaknesses and promote your
strengths, allowing you to get your market share of business. Unless
you’re only the company doing what you do, or offering a service, you
will never completely resolve threats, which is why you need to keep
an eye on your competition.
A. COMPETITION – TOOLS, cont.

1. Positioning Comparisons – This is a matter of branding and

general positioning. How does your brand behave, act and present
itself in the market? And, how does your competitors? By comparing
both, you can tell where are the strongest features of your brand and
have insights on how to develop them furthermore.
(Tools: Gartner Magic-Quadrant is the name of a series of market
reports. The reports contain a vast amount of research done on four
types of technology providers in fast-growing markets: Leaders,
Visionaries, Niche Players, and Challengers, allowing a broad view of
your competitors and market share.
 A. COMPETITION – TOOLS, cont.

How do I use a Gartner Magic Quadrant?

Use a Gartner Magic Quadrant as a first step to understanding the

technology providers you might consider for a specific investment
opportunity.

Keep in mind that focusing on the leaders’ quadrant isn’t always the best
course of action. There are good reasons to consider market challengers.
And a niche player may support your needs better than a market leader. It
all depends on how the provider aligns with your business goals.
 A. COMPETITION – TOOLS, cont.
Interactive Magic Quadrant features

Gartner’s interactive Magic Quadrant features enable you to create a view of the Magic
Quadrant to reflect your own business goals, needs and priorities. Most significantly the
interactive features enable you to adjust the weightings applied to each of the evaluation
criteria to generate a new, client-specific Magic Quadrant graphic for that market. You can
then save and share these customized Magic Quadrants for your internal analyses and decision
making.

Gartner’s interactive Magic Quadrant also brings together our expert opinion and the Peer
Insights user-contributed reviews into one experience. User Review tab enables you to read
and evaluate what your peers have to say about the enterprise IT solutions they have
implemented and use in their enterprise on a daily basis.
 A. COMPETITION – TOOLS, cont.

Challengers - A Vendor In The Challengers Quadrant Participates In The Market And

Executes Well Enough To Be A Serious Threat To Vendors In The Leaders Quadrant. They
Have Strong Products, As Well As Sufficiently Credible Market Position And Resources To
Sustain Continued Growth. Financial Viability Is Not An Issue For Vendors In The
Challengers Quadrant, But They Lack The Size And Influence Of Vendors In The Leaders
Quadrant.

Visionaries - A Vendor In The Visionaries Quadrant Delivers Innovative Products That

Address Operationally Or Financially Important End-user Problems At A Broad Scale, But
Has Not Yet Demonstrated The Ability To Capture Market Share Or Sustainable Profitability.
Visionary Vendors Are Frequently Privately Held Companies And Acquisition Targets For
Larger, Established Companies. The Likelihood Of Acquisition Often Reduces The Risks
Associated With Installing Their Systems.
 A. COMPETITION – TOOLS, cont.
Magic Quadrants help you:

1. Get quickly educated about a market’s competing technology

providers and their ability to deliver on what end users require today
and in the future
2. Understand how a market’s technology providers are competitively
positioned and the strategies they are using to compete for end-user
business
3. Compare a technology provider’s strengths and challenges with
your specific needs
A. COMPETITION – TOOLS, cont.

2. Product Comparisons – Advertising campaigns, discounts, and

specials are common knowledge, easily found of websites, brochures,
TV advertising, etc. What are your competitors offering that you
aren’t? What discounts or prices are working for them and how do
yours compare?

(Tools: What Runs Where – is a handy tool for monitoring your

competitor’s ads. It covers many ad networks and countries, allowing
you to track competitors worldwide.)
A. COMPETITION – TOOLS, cont.

3. Websites – These days, customers google your business or go

directly to your website before you even know they’re a customer. So,
analyzing your competitor’s website is a great place to start. Is their
website user-friendly? How many pages do they have? What’s on their
home page? How does your site compare? And most importantly, How
do you know whether their website is successful?

(Tools: WooRank –helps to better your website based on the results

of a project analyzing either your site or your competitors.)
A. COMPETITION – TOOLS, cont.

4. Search Engine Optimization (SEO) – There are numerous tools

to help determine how your website performs. There are also ways of
measuring keywords and key terms, all of which drive site visits. If
you can measure something, you can improve it. To get a better view
of your market share, you can analyze your competitor’s sites traffic
too. Where do your competitors rank in Google search? How many
more website visits do your competitor receive?

(Tools: Google Insights –to understand industry trends, consumer insights and
content possibilities. It’s a good way to compare yourself to the market and see
where your brand is placed.)
A. COMPETITION – TOOLS, cont.
5. Social Media – A key factor in this marketing climate is analyzing the
integration of social media into their marketing strategy. Does their website
have social media share buttons? Does your competition have an Instagram
account followed by millions? What are they posting and why? How often
do they post? The above things to monitor aren’t important solely in
themselves, but monitoring their social media followers – and the growth of
this following – will give you an insight into whether your competitor’s
marketing strategy is working.

(Tools: InfiniGraph – keeps you up to date with trends in your

specific industry. It is beneficial for both competitor analysis and
improving your own content.)
A. COMPETITION – TOOLS, cont.
6. Blogging – Is your competitor driving website traffic by blogging? How
often do they blog? Does the content represent solely their products or
spread industry knowledge? Subscribe to your competitor’s blogs. Check
out customer engagement through shares and comments. Are your main
competitors blogs full of dynamic well-written pieces worth sharing, or
pictures and fun stories? Find out what makes their blog successful.

(Tools: SocialMention – focuses on blogs and social media, tracking

keywords and company names, allowing you to keep track of what’s
said across social platforms – and with what sentiment.)
A. COMPETITION – TECHNIQUES
1. Create Utility, Satisfaction and Usefulness with your Product – this
requires that you offer them something they need and can use to accomplish
their other goals. Look at your market today. What are your customers and
potential customers want, need, and be willing to pay for in the moths and
years ahead? What are the trends in customer demands in your market?
2. Change your Pricing – by bringing your goods and services into
the price range of your customers, you can open up entirely new
markets that do not today exist. How could you price your products or
services so that more customers could afford to buy them?
 A. COMPETITION – TECHNIQUES, cont.
3. Emphasize Your Product’s Key Benefit to the Customer – adapting to
the customer’s reality, both social and economic. Each p/s offers “key benefit”
that is the primary reason why the customer would buy. Each product or
service also triggers a “key fear,” which is what holds the customer back from
buying the p/s in the first place. Customers are terrified of risk.
4. Deliver True Value of Your Product to Your Customer – True value
is something that can only be identified by working closely with your
customers. What represents true value to your customers? How could
you structure your p/s offerings in such a way that people would be more
comfortable purchasing them from you rather than your competitors?
 B. CUSTOMERS - PRINCIPLES
- an individual or business that purchases another
company's goods or services. 
1. Speed or Responsiveness – has the highest impact on
both customer satisfaction (fast response) and
dissatisfaction (slow response)
2. Accuracy – your service answers should be correct.
Inaccuracy causes dissatisfaction.
B. CUSTOMERS – PRINCIPLES, cont.
3. Transparency – not knowing what is happening or why
makes us feel uneasy. Which is why transparency is just as
critical to service as speed and accuracy.
4. Accessibility – if your customer has a problem, how easy is
it for him or her to get in touch? A research showed that it pays
off more to focus on reducing customer effort instead.
B. CUSTOMERS – TOOLS
1. Online Communities – allow customers to engage with
other customers, give direct feedback on products, and share
their passion for your product or brand. It can be accessed
through social media.
A. Discussion Forums – this enables you to collect and
respond to customer feedback. You get the benefit of seeing a
lot of customer feedback, and you can see how customers react
to the solutions that are provided in the community.
B. CUSTOMERS – TOOLS, cont.
B. Social Media – create a social media presence and use it to
engage with customers, connecting with them and responding
to their problems or issues on a timely basis.
2. Automatic Callback – is a telephone system feature that permits
a caller who gets a busy signal to instruct the system to establish the
connection when the line becomes available. The system does this by
retaining both the called and calling numbers, redialing the called
number periodically and alerting the caller when the connection has
been made. 
B. CUSTOMERS – TOOLS, cont.
3. Live Chat – is another way to foster a good online
experience for your customers. It’s also a good way to provide
information that might encourage a purchase decision. For
example, clothing retailers often offer a live chat with a “style
consultant”.
4. Customer Satisfaction Surveys – allowing your customers
to give feedback provides you with valuable information on
how to build a better customer journey, and it can help instill
trust in your brand.
B. CUSTOMERS – TECHNIQUES
1. Engage in Active Listening – is essential in active
communication. It allows for better understanding of the
customer’s needs and shows a willingness to help. Allow the
customer to talk without interruption, reflect back their main
question or concern and ask clarifying questions when
necessary.
2. Highlight Understanding – Ensure that each customers is
aware that you understood their needs and are making an effort
to help solve their problem.
 B. CUSTOMERS – TECHNIQUES, cont.
3. Be Courteous – Be polite and have respect for your customer
and lets them know that they are important.
4. Call the Customer by Name – Ask the customer their name
and pronounce it correctly. This communicates respect for the
customer and lets them know that they are important.
5. Go the Extra Mile – By taking the initiative to provide better
service or give the customer something extra, customers will
feel valued and appreciated.
 B. CUSTOMERS – TECHNIQUES, cont.
6. Highlight Pros and Cons – When describing a p/s, include
both its strengths and weaknesses relative to alternatives. By
providing balanced recommendations, customers will view you
as more credible.
7. Explain – Customers are not always familiar with your
company’s policies or procedures. Thoroughly explain to
customers what you’re doing and why you’re doing it
8. Use Plain Language – Avoid technical terms, jargon and
acronym. Be professional, concise and clear.
 C. SUPPLIERS – PRINCIPLES
1. Relationship with applicable laws
2. Human Rights
3. Labor Rights and Working Conditions
4. Health and Safety
5. Environment
6. Privacy, Freedom of Expression and Data Protection
7. Prohibited Business Practices (Competition, Bribery,
Corruption and Fraud
 C. SUPPLIERS - TOOLS
1. Talk to your suppliers regularly
2. Pay your supplier’s accounts promptly
3. Communicate with a supplier before the due date for payment, should
you foresee a delay in paying an account
4. Build good relations with your current supplier’s representatives
5. Avoid rush orders whenever possible
6. Monitor the financial position of your supplier
7. Address any issues of concern in relationships with your suppliers as
they arise
8. Refer damages or faulty goods to the supplier promptly, with
supporting documentation
 C. SUPPLIERS – TECHNIQUES
1. Regular Communication – this fosters mutual understanding
with your business and your suppliers.
2. Putting Objectives in Place – should be done at the
beginning of the production process.
3. Regular Meeting – by regularly having an in-person meeting
with a representative from your supplier, you’ll be able to more
easily communicate certain goals and objectives that can be
difficult to get across in text
 C. SUPPLIERS – TECHNIQUES, cont.
4. Putting Things in Writing – If any questions arise, your supplier will
always have a hard copy of a document they can refer back to. They’ll
always be able to clearly know what your objectives are without
necessary getting in direct contact.
5. Make Sure You’re Focused on Your Supplier’s Needs, Alongside
Yours – Just as your business had its own unique requirements which
need attending to, so will your supplier. Keep in mind that many
suppliers depend on the prompt payment of invoices to move forward
with their own business models.
 D. COMPETITORS - PRINCIPLES
1. Race Yourself and Set the Tone – The most important piece is this –
how focused you are on your goals, and how enthusiastic you are with
your crafts. You’re driven by a growth mindset that’s in a race with itself
to improve.
2. Make a Plan To Be #1 in Your Segment
3. Grow Faster Than Everyone Else – It’s about your approach toward
the market and grabbing every inch to grow a little each day – which
compounds over time. Most importantly, it’s the urgency and activity it
produces on a daily basis.
 D. COMPETITORS - TOOLS
Getting to know your competitor’s strengths and weaknesses is the
foundation on which to base good strategy.

1. SimilarWeb – has loads of cool features that let you peek behind the
scenes at your competitor’s strategy. Find out which channels are
driving traffic to your competition – with stats for traffic distribution,
top organic and paid search keywords, top ad networks, audience
interests, and competing websites.
 D. COMPETITORS – TOOLS, cont.
2. Audiense – This service will help you analyze your competitor’s
audience based on their Twitter followers. See stats on location, gender,
interests, and the languages of those who follow your competitors.
3. Builtwith – Dig deep into your competitor’s website technologies and
tools with this handy service. It can uncover their web server,
advertising services they use, analytic technologies, and much more.
You can even find out which email services a given website is using.
4. Simply Measured – A free tool from this called Facebook
Competitive Analysis can easily compare your facebook fan page with
your rival.
 D. COMPETITORS – TOOLS, cont.
5. Rival IQ – It will analyze your social media performance across all
the major social networks and compare it to your competition. Add your
competitor’s website to your dashboard to compare audience growth,
post engagements, and top posts.
3. Builtwith – Dig deep into your competitor’s website technologies and
tools with this handy service. It can uncover their web server,
advertising services they use, analytic technologies, and much more.
You can even find out which email services a given website is using.
4. Simply Measured – A free tool from this called Facebook
Competitive Analysis can easily compare your facebook fan page with
your rival.