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Competitive profile matrix is a very important concept, that needs to be clarified with proper but simple examples. Competitive Profile Matrix is the form of analysis that tells us a company’s strong and weak points by comparing it to competitors. After running this review, you will get scores that will tell you, your performance in every area required for competitive success. These areas are also known as critical success factors.
What to expect from a Competitive Profile Matrix analysis?
- The strong and weak points of your own and the rival companies.
- Information about your strategic decision making.
- Possible potentials in the marketplace.
- Value of your organization and with your competitor organizations.
One of the best advantages of doing a Competitive Profile Matrix analysis is that it gives a complete idea about your place in comparison to your competitors.
Example of a Competitive Profile Matrix analysis:
A complete example will be an excellent Competitive Profile Matrix homework help. Generally, the critical success factors are: location, quality of the product, customer service, customer loyalty, marketing, the reputation of the brand and range of the product. Hence, the analysis report with two competitive companies will be:
| Own Company | Competitor 1 | Competitor2 | |||||
| Critical Success Factors | Weight | Score | Weighted Score | Score | Weighted Score | Score | Weighted Score |
| Location | 0.08 | 2 | 0.16 | 3 | 0.24 | 3 | 0.24 |
| Reputation of Brand | 0.5 | 4 | 2 | 3 | 1.5 | 2 | 1 |
| Quality of product | 0.2 | 4 | 0.8 | 2 | 0.4 | 2 | 0.4 |
| Range of product | 0.3 | 3 | 0.9 | 1 | 0.3 | 1 | 0.3 |
| Marketing | 0.25 | 3 | 0.75 | 3 | 0.75 | 1 | 0.25 |
| Customer service | 0.2 | 2 | 0.4 | 2 | 0.4 | 4 | 0.8 |
| Customer loyalty | 0.1 | 3 | 0.3 | 2 | 0.2 | 3 | 0.3 |
| Total Score | 5.31 | 3.79 | 3.29 | ||||
The Scores:
- Most important weakness
- Weakness
- Strength
- Most important strength
All the companies get scores for each of the critical success factors. When each category is added, every company gets a total score that can be compared to organizations. The weight range for every essential or critical success factors is from 0.1 to 1.0.
This analysis will tell you that among the three companies, supposedly the company owned by you has the highest score concerning the critical success factors.
This type of simple explanation will be a great the Competitive Profile Matrix homework help and make your concepts clear.
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