Using Industry Analysis
Many firms neglect industry analysis. When does this hurt them? When does it not?© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/business/strategy-and-business-analysis/using-industry-analysis-7e3v
...Product in the markets
4. Target buyers
5. Regulatory issues in the environment
6. Successful companies in the industry
Certainly a study is very important to the consideration for a new business, but even an established business should frequently compare itself to other companies in the industry. Because marketing, technology, products and customers are not static, it is critical to 'keep up' with changing business environments.
Porter's five forces are commonly used to assess industry structure. The five forces were designed to ...