Industry and Market Analysis
Industry and Market Analysis
This chapter introduces some structural frameworks and market-sensing principles. This knowledge is a crucial element in marketing planning and in defining the terrain on which companies compete — the opportunities and threats in a SWOT analysis. It draws attention to the environment in which organizations operate and compete, analysing it from two complementary perspectives. Part A of the chapter considers industry dynamics, focusing on understanding the nature of competition and cooperation in markets. Using price wars, it illustrates some of the triggers that initiate competition and the dynamics involved. The second part examines market evolution. There are two complementary reasons for examining the broad patterns of change in a market. One is that successful organizations take an outside-inside view of their business. The second reason is that many customer needs emerge from changes in the social environment.
Keywords: SWOT analysis, marketing planning, forecasting, market orientation, product life cycle, industry dynamics, market evolution
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