Part 2 examines the analysis of competitive markets in finer detail.
Chapter 3 commences with a discussion of the changing market and competitive
environ ment facing many firms and organisations in the 2020s. Frameworks, such as
PEST analysis for analysing change in the broader macro-environment, are introduced
and strategies for operating in changing markets discussed. The chapter then focuses
on the competitive, or industry, environment. This begins with a discussion of the Five
Forces Model of industry competition and an introduction of the product life cycle, fol-
lowed by a review of strategic groups and industry evolution. Environmental stability
is assessed, together with SPACE analysis. Finally, the Advantage Matrix is reviewed
as a means of assessing the key characteristics of an industry when forming strategy.
Chapter 4 considers customer analysis. Information requirements are first discussed,
followed by sources of customer information. The variety of marketing research tech-
niques available to aid customer analysis is examined. The discussion then turns to the
processes by which customer data are collected and how those data can be turned
into information to aid marketing decision making.
Chapter 5 addresses competitor analysis. Following a discussion of competitive bench-
marking, the dimensions of competitor analysis are discussed, together with techniques
for identifying competitor response profiles. The chapter concludes with a review of
sources of competitor information.
Chapter 6 is concerned with the internal analysis of an organisation’s resources, assets
and capabilities that can be leveraged in its target markets. Starting from a broad,
resource-based view of the firm and the identification of its core competencies, the
chapter moves to the more detailed issues of auditing resources and itemising specific
marketing assets, such as brands, reputation, supply chain strengths and partnerships.
The chapter concludes with a framework to build a profile of a company’s marketing
capabilities.
‘Because knowledge changes so rapidly, knowledge flow is more important
than knowledge stock.’
John Hagel
THE CHANGING MARKET
ENVIRONMENT
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