The changing market environment
11 important questions on The changing market environment
What is the difference between industries and markets?
Markets are customers linked by similar needs
What three forces are driving change?
Competition
Customer analysis
What approach may be used to understand the macro-environment?
- demographical trends
- Economical trends (not only recessions
- Social trends: family/ culture/ war on terror/
- Technological trends; very often technologies trends lead to social trends —> internet. It is th best to take a systematical approach when looking at technological trends.
- Ecological; (environmental development) (people profit and plannet)
- Political;
- Artisitcs; example banksy. It is difficult to predict
- Legal; what is the difference between political and legal. Starts with political and then in some parts it becomes legal (privacy for example)
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What important changes are taking place in the general market environment?
2. Role of marketing
What is the shift in strategy for delivering shareholder value?
- Markets shape business strategy
- Networks of interlinked product markets
- move from function to processes
- Strategic alliances
- The balanced scorecard
Why is the PLC insightful?
What premises the product-life cyle?
2. Predictable
3. Conditions, opportunities and challenges vary over the life cycle.
4. Strategies need to adapt over the life cycle.
What are the three main stages including issues and strategies in the industry evolution according to Porter?
What is a limitation of Porter's industry evolution model?
What is the environmental turbulence model?
What is the advantage matrix?
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