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Transcript of 2 Industry
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Industry and Marketplace Analysis
Stephen Lawrence and Frank Moyes
Graduate School of Business
University of Colorado
Boulder, CO 80309-0419
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Industry and Marketplace Analysis
Overview of industry and marketplace
Trends, dynamics, problems, opportunities
Demonstrate need or hole in marketplace
Show how trends lead inevitably to your concept
Tone of dispassionate analysis
Arms-length viewpoint, outsider looking in
Not the place to describe your concept or firm
This is not where you present your market strategy
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Organization of Analysis Section
Industry Analysis
Marketplace AnalysisCustomer Analysis
Competitor Analysis
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Conceptual Picture
Your Industry
Your Marketplace
Buyers SellersYouX
Save for
Marketing Plan
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-- Industry analysis
Overview of industry organization
Pure competition, oligopoly,
Focus on major and important trends
Identify disruptive technologies (if any)
Porter analysis is a good exercise
May or may not include in plan
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Porter Analysis
Power of
Suppliers
Power of
Customers
Ease of
Substitution
Barriers to
Entry
IndustryIndustry
Rivalry
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Industry Questions
How do we define our industry?
How is the industry segmented?
What are current trends and important developments?
Who are the largest and most important players?
What problems is the industry experiencing?
What national and intl events influence our industry?What are growth forecasts?
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-- Marketplace Analysis
Define and describe yourmarketplace
Niche, geographic area, subset of larger industry
Whats happening in your market?
Network! talk with the marketplace
Customers, competitors, vendors, suppliers,
salespeople,
Chambers of commerce
Industry trade groups
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Marketplace Questions
How do we define our marketplace?
How large is it and how fast is it growing?
How is our marketplace segmented?
What companies currently service this market?
What trends are important in our marketplace?
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-- Customer Analysis
Identify current buyers in your marketplace
Segment these customers
What problems are not being solved?
What needs are not being met?
Which customer segments are currently ignored?
Talk with current buyers!
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Customer Questions
Who are the traditional customers in this market?
How is the market segmented?
What motivates buying decisions?What channels of distribution are used? What channelsare being ignored
In what ways are customers dissatisfied with current
offerings in the marketplace?What customer needs are currently unmet by themarket?
What emerging customer groups are being ignored?
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-- Competitor Analysis
Identify current sellers in your marketplace
Niche and focus
Target customers Strengths and weaknesses
Talk with current marketplace sellers!
Sellers themselves Vendors
Customers
Competitive Matrix Comparison
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Competitive Matrix
Competitive Matrix Chart
Product orService
Production/ Quality
UniqueFeatures
DistributionSystem
Marketing /Advertising
GeographicLocation
Strengths &Weaknesse
MarketShare
Competitor A
Competitor B
Competitor C
Competitor D
Competitor E
Competitor F
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Competitor Questions
Who are current sellers in the marketplace?
What are the attributes and characteristics of these
sellers and their products/services?What is there size, location, target market, and other
important characteristics?
For their products or services, identify price, quality,
features, distribution, and other important attributes.
What problems and concerns to customers have with
these sellers?
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Suggested References
Encyclopedia of Associations, Business Libraryreference section
1997 U.S. NAICS Codes and Titles, http://www.census.gov/epcd/naics/naicscod.txt
1997 NAICS and 1987 SIC Correspondence Tables, http://www.census.gov/epcd/www/naicstab.htm
Researching an Industry (Babson College) http://www.babson.edu/itsd/sg/word/sg4industry.doc
Finding statistics (Babson College) http://www.babson.edu/itsd/sg/word/sg4statistic.doc
http://www.census.gov/epcd/naics/naicscod.txthttp://www.census.gov/epcd/www/naicstab.htmhttp://www.babson.edu/itsd/sg/word/sg4industry.dochttp://www.babson.edu/itsd/sg/word/sg4statistic.dochttp://www.babson.edu/itsd/sg/word/sg4statistic.dochttp://www.babson.edu/itsd/sg/word/sg4industry.dochttp://www.census.gov/epcd/www/naicstab.htmhttp://www.census.gov/epcd/naics/naicscod.txt -
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Product/Service Description
Introduction
Description
What is your product or service? Describe carefully.
Market comparison
Why is our product or service unique or better?
What problems does it solve for customers?
Proprietary rights (if any)
Stage of development (brief)
Use this section to sell your concept
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Product/Service Summary
Introduction
Write an evocative paragraph that attractively
presents your product or service
Entering Hills Kitchen, customers are engulfed by the aroma of warm, hearty soups and
freshly baked breads. They relax to music and peruse our menu of original gourmet
recipes and freshly baked breads. A friendly and knowledgeable kitchen staff person
greets them at the counter to offer suggestions and health information, and to take their
order. Within moments the customer is served a generous portion of hot, hearty, and
delicious Hills Kitchen soup. Accompanying the soup is a large slice of freshly baked
bread and a fresh fruit choice, all of which can be carried out or enjoyed in our clean
and comfortable dining area. In just those few brief moments, Hills Kitchen has served
another healthy and delicious meal, and satisfied yet another customer.