Strategies for Strategies for Competing in Competing in

Emerging Emerging IndustriesIndustries

-Rishabh Srivastava-Shipra Srivastava

Objectives of the sessionObjectives of the session• -Introduction to Emerging Industries• An overview to Challenges related to emerging

industry• A detailed study of 3-D printing-an emerging

industry of India• Shaping Strategy for the same.

Emerging IndustriesEmerging Industries• ‘Emerging industries can be defined as the

establishment of an entirely new industrial value chain, or the radical reconfiguration of an existing one, driven by a disruptive idea (or convergence of ideas), leading to turning these ideas/opportunities into new products/services with higher added value.’

• In other words, these are the upcoming companies and businesses within new or revitalized sectors that subsequently become successful or highly sought-after.

Features of Emerging Features of Emerging IndustriesIndustries

Challenges Of Emerging Challenges Of Emerging IndustriesIndustries

Examples Of Emerging Examples Of Emerging Industries in IndiaIndustries in India

Examples of Emerging Examples of Emerging Industries in IndiaIndustries in India

Factors to be ConsideredFactors to be Considered

Factors to be ConsideredFactors to be Considered

SWOT AnalysisSWOT Analysis

3-D PRINTING3-D PRINTING• The creation of a 3D printed object is achieved

using additive processes. In an additive process an object is created by laying down successive layers of material until the object is created. Each of these layers can be seen as a thinly sliced horizontal cross-section of the eventual object.

• It all starts with making a virtual design of the object you want to create. This virtual design is for instance a CAD (Computer Aided Design) file. This CAD file is created using a 3D modeling application or with a 3D scanner (to copy an existing object). A 3D scanner can make a 3D digital copy of an object.

• The 3D printing market is estimated to garner $8.6 billion by 2020, registering a CAGR of 21% during 2015 - 2020.

• The factors driving this market are reduction of errors, high degree of accuracy, efficient use of raw materials, ability to build customized products, simultaneous use of multiple materials for printing, efficient use of production time and financials, and competency over traditional techniques among others

Shaping Strategy by Porter’s Shaping Strategy by Porter’s Five-Force Analysis Five-Force Analysis

Importance Importance • Helps a business to understand both the strength of

competitive position and the strength of the business we are considering moving.

• With a clear understanding of where the power lies one can take fair advantage of a situation of strength, improve a situation of weakness and avoid taking wrong steps.

• Whether the new products, services or business has the potential to be profitable.

Porter’s Five Force AnalysisPorter’s Five Force Analysis• POTENTIAL ENTRANTS-Low-If the cost and time for entry in emerging industry is

more,it will be DIFFICULT-SPECIALIST KNOWLEDGE:-Difficult in the case of 3D

technology-TECHNOLOGY PROTECTION:-Threat of new entry is

difficult .SUPPLIER POWER-high-Less suppliers-Availability of suppliers product substitute is difficult-High Switching cost

• BARRIERS TO ENTRY• May have as technology can be used for illegal

purpose• High Operating Cost• Learning curve is exponential

• BUYERS POWER• Moderate buyers• High loyalty• Price sensitivity is high

• Competition Rivalry• -Low

Strategies that can be Strategies that can be adopted by itadopted by it

Vertical Integration:- The industry can have alliances with the, Airplane Industry, Toys Industry, Tools industry for the supply of parts.

Furthermore the Industry can have alliances with the medical industry for the supply of artificial body parts.

Stability Strategies:- The industry can provide after sales services and sell accessories and consumables since its new to market.

• Market Development Strategies:-By investing heavily on developing market.

Other StrategiesOther Strategies• Marketer’s should induce initial purchase and to

overcome customers concerns over the product features and performance reliability.

• Utilize potential buyers' feedback as they always try to improve the quality of the product and services of the company.

• Strategic managers are required to have ample suppliers to offset uncertainty in supply by certain suppliers.

• Managers must look to tie up with capital rich firms or look to being acquired by financially strong firms.

• Getting Product Innovation from time to time.

• Win the early race for industrial leadership by taking bold moves in creating strategies and with risk taking entrepreneurship

• Getting the specialized manpower in high expertise.

ReferencesReferences• https://www.quora.com/What-are-Indias-5-fastest-

growing-industries

• //www.ukessays.com/essays/marketing/strategies-for-competing-in-various-types-of-industries-marketing-essay.php

• https://3dprinting.com/what-is-3d-printing/

• https://www.alliedmarketresearch.com/3d-printing-market

THANK YOUTHANK YOU

Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.

-Michael Porter