COMM 320 Chapter Notes - Chapter 1-10: Finished Good, Competitive Intelligence, Switching Barriers
28 Apr 2017
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Industry: a group of irms producing a similar product or service, such as airlines, itness drinks, furniture, or electronic games. Industry analysis: is business research that focuses on the potential of an industry. Helps a irm determine if the niche or target markets it identiied during its feasibility analysis are accessible and which ones represent the best point of entry for the new irm. What is the fundamental nature, characteristics, drivers, makes it work or the business. Who are the competitors, ratios, gathers information about something you don"t know. Competitor analysis: detailed evaluation of a irm"s competitors. Once a irm enters an industry, it must understand its competitive environment. Industry trends: strength of an industry depends on if environmental trends shift in favor or against the products or services sold by irms in the industry. (its not because managers didn"t do well their job: environmental trends. Include economic trends, social trends, technological advances, and political and regulatory changes.
