BUSI 4220U Lecture Notes - Lecture 3: Sociocultural Evolution, Switching Barriers, Target Market
Document Summary
Questions for assessing market opportunities: how attractive is the industry in which we would compete, how attractive is the market we are or will be serving, are the right resources in place to effectively pursue the opportunity. Assess market and industry attractiveness and the company"s resources (5cs) Market group of individuals or organizations having the willingness and ability to buy goods and services to satisfy a particular class of wants or needs. Industry group of organizations offering goods and services that are similar and close substitutes for one another. Marco-level analyses are based on environmental conditions that affect the market or industry, as a whole. Porter"s five forces: threat of new entrants, low economies of scale, how capital requirements, low differentiation, rivalry among existing industry firms. Investment, # of firms, differentiation, switching costs: bargaining powers of buyers, switching costs, buyer concentration, bargaining powers of suppliers, switching costs, supplier value, threats of substitute products.
