Description
Description: This course delivers key marketing concepts and principles of marketing needed to critically analyse and plan for Industry and Market using: Industry Analysis; Market Analysis; Enterprise Value Chain Analysis; Competitor Analysis; SWOT – Gap Analysis; TOWS analysis and Building Conversion Strategies; and Risk
Background: When assessing the internal factors and the system the firm functions in there are several layers of analysis. These include
1. Industry analysis
2. Market analysis
3. Internal environmental and firm analysis
4. Value chain analysis
5. Competitor analysis
6. SWOT: Gap Analysis
The Five-Forces Model identifies competitive forces at work that shape every industry, and that help to determine an industry's weaknesses and strengths.
These forces are:
1. competition in the industry
2. potential for new entrants into an industry
3. suppliers’ power
4. customers’ power
5. threat of substitute products.
The Five-Forces Model is a tool used to determine interaction between industry/market forces. That is why it is important within the Background section to clearly understand the industry and market, and to list some of the main competitors before engaging in this type of analysis.
What you'll learn
Critically evaluate and synthesize information to demonstrate research skills, and initiative in producing marketing analysis, research outcomes and recommendations for marketing and risk management plans.
