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- INDUSTRY TYPES AND DYNAMICS ILLUSTRATION 3.3 Steps in an industry analysis There are several important steps an industry analysis before and after analysing the five forces. Emily wants to start a coffee shop and perhaps even try 4 Assess the overall industry structure and attractiveness. to grow the business into several outlets. She needs to consider the following steps and questions: • How attractive is the industry? Why? • Which are the most important competitive forces? Which control profitability? • Are more profitable competitors better positioned in relation to the five forces? 1 Define the industry clearly. Do the actors in the industry face the same buyers, suppliers, entry bar- riers and substitutes? • Vertical scope: What stages of the industry value chain/system? • Product or service scope: What products or ser- vices? Which ones are actually parts of other, separate industries? What segments? • Geographic scope: local, national, regional or global competition? For Emily…write an Industry Analysis for a business plan about a burger shop (selfwoner) Industry Analysis should include: 1- future outlook and trends 2- analysis of competitors 3- market segmentation 4- industry and market forecastsCigna Accredo pharmacy should be discussed in detail using NAICS to specifically identify the industry. Provide an industry profile discussing major competitors and market position of those competitors along with your organization. The industry outlook will be future focused. There may be current changes that are going to impact the future; however, the focus of this section is not to be what HAS happened already. This must be forward-looking to assess the general environment the organization will face in the next three to five years. You should consider the PESTLE analysis and Porter’s 5 Forces Model as guides to consider the coming changes in the industry.
- 1. How has the internet influenced the five forces with an industry?2. What are the two ways that can achieve cost and price advantages according to the paper? Which is better?3. Does the internet overturn the traditional way for doing business? What are some reasons given?Choose an industry or sector which is becoming more and more competitive among FMCG retail OR Fashion. Assess their business strategies in terms of the generic strategies of cost leadership, differentiation and focus they are maintaining? How might the principles of hyper- competitive strategies apply to these industries or sector? Explain how, when and in what ways, interactive and cooperative strategies, rather than direct competition, might make sense to them.1. Explain the forces that shape competition in an industry. 2. Select an industry example to illustrate each force. assume any industry of your own choice
- Explain the concept of Porter’s five forces Model used for Industry Analysis? What are the major factors that become barriers to entry in the New Industry?The differences in the performance of various firms within an industry limit the usefulness of industry analysis. Discuss.1- Describe the different stages of industry development. 2- What is competitive advantage? How can a company build its competitive advantage?
- identify cigna pharmacy competitors and external environments and within recent Industry trends review the latest trends within your industry and the potential for the trends to affect your organization positively or negatively. In addition, consider major trends of other industries and the potential impact the trends may have on your organization. • Competitors website and social media presence (LinkedIn, Facebook, Twitter, etc.). Review and assess what your competition is doing. Is your competitor’s social presence more effective than yours? What can you learn from what or how they are promoting? What are their clients saying about their electronic presence?a) Define micromarketing and discuss its importance in creating successful marketing.b) Discuss how you can create customers for any product of your choice. Give illustrations to support suggestions. i need more details1. Discuss the key success factors in mature and declining industries. 2. With the help of a diagram, explain the industry life cycle. 3The success or failure of organisations is closely linked to the extent to which they understand customer needs and commitment in the various industry segments. With reference to the above statement, advise an organisation on factors to consider when segmenting customers. 4 .With reference to the industry rivalry of Porter’s forces model, explain the most common forms of competition with relevant examples: