How to Turn Competitor's Weaknesses Into Opportunities

SWOT Analysis
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Mukisa Simon Peter
Teacher, Uganda

How to Turn Competitor's Weaknesses Into Opportunities

How can I turn my rival's internal weaknesses into my opportunities?
This is not so easy as some companies succeed in keeping their internal weaknesses as a secret to themselves...

  Heringa
Analyst
 

Taking Advantage of Our Competitor's Weaknesses

Your strengths are your competitor's weaknesses. If not, they're not your strengths either. If they are, you could use them to his disadvantage.
For example: you have a strong financial position (and your competitor does not), you can bleed him out, through price war or excessive marketing.
In my opinion, however, you should not focus on eliminating the competition, but on creating value for your customer and having your competitor around to show to you are better.

  Jaap de Jonge
Editor, Netherlands
 

How to Turn Competitor's Weaknesses Into Opportunities

Some initial guidance... In general one step is indeed to actually KNOW what are the weaknesses of each of your main competitors. Have a look at Competitive Intelligence and/or Benchmarking for more on this.
When you've found these and compared them with your own strengths, you might proceed by considering to what extent they matter for certain customers (segments). Have a look at Kano Attributes.
If you find a combination of weaknesses of competitors + strengths of yourself + interested customers (segments) you might be looking at a promising strategic opportunity. Your company might want to invest in this area and tell the world about it (Advertising).

 

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