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.