MARK344 Lecture Notes - Lecture 8: Perfect Competition, Switching Barriers, Bargaining Power
Document Summary
Illusion business: areas where the market appears very attractive, because it is large, dynamic, expanding and so on. Ideally, the firm is seeking to position its offerings in: core business: markets offering the benefits and returns needed, where the firm can take a strong, defensible, position. Clearly these are the highest priority for investment of time and resources. The major issue here is how well we understand what makes a market attractive for a particular company, and what makes a market position strong. A number of points are worth bearing in mind in approaching market definition: markets change: the development of marketing strategy takes place in the context of a constant process of change. From this perspective it is unreasonable to assume that a company"s definition of markets should remain static: markets and industries: we have made the point before that markets are not the same as industries or products.
