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Competitor and Market Analysis of Consumer Appeals

MKT 102 (C21)
Closed
McMaster University Continuing Education
McMaster University Continuing Education
Hamilton, Ontario, Canada
Glenn Smith
Instructor
(10)
6
Timeline
  • October 19, 2020
    Experience start
  • October 27, 2020
    Project Scope Meeting
  • November 17, 2020
    Midway Check In
  • December 7, 2020
    Experience end
Experience
4/4 project matches
Dates set by experience
Preferred companies
Ontario, Canada
Any
Retail, Food & beverage, Insurance, Apparel & fashion, Telecommunications, Automotive, Consumer goods & services, Banking & finance, Marketing & advertising, Travel & tourism, Cosmetics & beauty, Liquor, wine & spirits, Sports & fitness
Categories
Communications Market research Marketing strategy
Skills
social media analysis consumer behaviour analysis competitor analysis market opportunity marketing & advertising
Learner goals and capabilities

Would you like a deeper understanding of how your competitors appeal to consumers & potential customers in your market – and how your offering(s) sits within the range of consumer appeals in this category? Gain insights from student research and analysis as teams identify/analyze the key consumer wants & needs that the offerings in your category meet, reveal how your competitors attract and keep customers, and propose how this knowledge can be used to build your business.

Learners
Continuing Education
Any level
45 learners
Project
60 hours per learner
Learners self-assign
Teams of 5
Expected outcomes and deliverables

Final deliverables include:

1) An analysis identifying where competitor’s product or service offerings meets the needs of your product category users

2) An analysis of advertisements, web site information and any promotional materials that support the brands and their identity including:

  • Who these materials address
  • What needs they address
  • How they expect consumers to learn about their product(s)
  • How they generate attention for their product or message
  • What types of appeals they make (including message style & tone).

3) An overview of how each brand uses consumer concepts (where relevant) such as:

  • Perception, Memory, Senses
  • Learning Theory
  • Self-Image, Social Self, Motivation
  • Moods, Emotions, Attitudes
  • Consumer Personality, Lifestyles, Values
  • Group influence
  • Demographics
  • Consumer Decision Making
  • Culture

4) Recommendations on ways to effectively appeal to consumers and/or gain competitive advantage against your competitors via your understanding of consumer-based insights.

Project timeline
  • October 19, 2020
    Experience start
  • October 27, 2020
    Project Scope Meeting
  • November 17, 2020
    Midway Check In
  • December 7, 2020
    Experience end
Project Examples

Student-consultants in groups of 4 to 5 will develop a competitive analysis of your product or service based on how each key competitor in your market-place addresses consumer needs and wants.

Each team will:

1) Identify how each of your key competitors differentiate the features of their offerings to appeal to consumer needs and how they may satisfy the needs of individual segments within their market place by:

  • Identifying the needs each brand offering addresses
  • Identifying how each brand offering appeals to different or somewhat different consumers

2) Review consumer-facing communications from your firm and your key competitors including (where applicable):

  1. Current advertising – all media types (including on-line)
  2. Web sites, Social Media
  3. Promotional materials
  4. In-store activity
  5. Identify how consumer behavior impacts you and your key competitors
  6. Identify how each competitor is trying to influence your product category users.

To accomplish this work, students will:

  • Conduct an initial meeting with your organization to determine the scope of the project and your key areas of interest
  • Work as a group to develop a detailed report for your organization.
  • Deliver the final report to your organization
Companies must answer the following questions to submit a match request to this experience:

Share feedback and recommendations about the project deliverables with the students and instructor.

Provide an online video or link to your website to introduce the students to your organization prior to starting the project.

Be available for a quick phone call with the instructor to initiate your relationship and confirm your scope is an appropriate fit for the course. Advise the instructor if students will be required to sign an NDA prior to beginning the project.

Provide a dedicated contact who is available to answer periodic emails or phone calls over the duration of the project to address students' questions or provide additional information. Minimum of 2-4 interactions with each student group leader (approximately 4-6 hours over the duration of the project). Let the students/instructor know if you will be away for an extended time (e.g., vacation).

To provide efficiency in the information sharing process, 2 - 3 web conferences may be scheduled in advance at appropriate intervals. The Instructor may ask for participation in an Instructor-led webinar session for students at the beginning of the project by providing an overview of your organization, project and desired/expected outcomes.