chapter 2

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THE ECONOMY AND ITS SECTORS

Ved Txema Betes

Market structures.

Ved Shyanne Dalton-Birdsong

Mergers and acquisitions

Ved Davydov Alexey

Strategic Marketing Plan

Ved Mindomo Team

IDENTIFYING COMPETITIVE ADVANTAGES

Common tools Analyze and Develop

Value Chain

Primary Value Activities

Acquire raw materials and manufacture, deliver, market, sell, and provide after sales services

Support Value Activities

Support the primary value activities

Business Process

A standardized set of activities that accomplish a specific task processing a customer's order

Porter's Three Generic Strategies

Focus Strategy

Either cost leadership or differentiation

Broad Differentiation

Target a niche market

Broad Cost Leadership

Reach a large market segment

Porter's Five Forces Model

Rivalry among Existing Competitors

High when competition is fierce in a market and low when competition is more complacent

Threat of New Entrants

High when it is easy for new competitors enter a market and low when there are significant entry barriers to entering a market

Threat of Subtitute Prodict or Services

High when there are many alternatives to a product or service and low when there are few alternatives from which to choose

Supplier Power

High when buyer have few choices of whom to buy from and low when their choices are many

Buyer Power

High when buyer have many choices of whom to buy from and low when their choices are few

First - mover Advantage

Organization can significantly impact its market share by being first to market with a competitive advantage

Environmental Scanning

The acquisition and analyzis of event and trens in the environment external

Competitive Advantade

Organization's customers place a greater value on than similar offerings from a competitor