Industry analysis - levels of competition

We talked in the previous article about the Bulgari and Chopard main competitiors. Now we will have a closer look at the jewelry industry, more specifically at the levels of competition.

We will start with the definitions and after we will identify the competitors.

Product form competition - firms offering slightly different variants of same basic product. Analyzing the jewelry industry, we can say that Bulgari's and Chopard's competitors will be Cartier, Tiffani, Piaget and Chaumet, since they all offer luxury jewelries, like earrings, rings, bracelets, necklaces, etc.

Product category - the specific generic to which a good or service belongs.

In our case the product category competition of Chopard and Bulgari will be Mikimoto, best known for its pearl jewelries, Swarovski for its crystal jewelries, De Beers for their diamond jewelries and Rolex for their watches.

Generic competitors - products which are all different in type but are capable of satisfying the same basic want of the perspective purchaser. Therefore it has to be related to adornment, so we will have Dior with their fragrances, Louis Vuitton with their handbags, Christian Louboutin with shoes, Chanel for clothes and Guerlain with the make-up.

Budget competition - anything on which the consumer might want to spend their available money. In our case this will be Lexus with cars,  Lurssen with yachts, Bombardier with the private jets, Harrods Estates offering luxury flats and houses, Harrods store offering the luxury truffles and fois gras, Caviar House & Prounier offering the best caviar in the world, and Don Perignon with their champagne.

TP

Sources:

http://www.salesopedia.com/glossary

http://www.therichest.com/luxury/most-expensive/the-top-10-most-expensive-louis-vuitton-items/

http://www.bornrich.com/fine-fragrances-world-s-most-expensive-perfumes.html

http://en.wikipedia.org/wiki/Adornment

http://en.wikipedia.org/wiki/Competition

http://listdose.com/top-10-best-luxury-clothing-brands-world/

http://en.wikipedia.org/wiki/L%C3%BCrssen

http://fr.wikipedia.org/wiki/Bombardier_Global_Express

http://www.harrodsestates.com/

http://www.harrods.com/food-and-wine/truffles-and-foie-gras

http://www.domperignon.com/

https://www.caviarhouse-prunier.co.uk/finest-caviar-by-caviar-house?language=en