Market Enviroment
Shapes how the company develops, promotes, and distributes products to meet customers needs. By analyzing it, firms can adapt to challenges, seize opportunities, and stay competitive.
What is the Market Environment?
Dissects the organization’s activities into a generic value chain and highlights the key tenets of Value Creation
What is Value Chain Analysis?
Porter's five forces analysis model
What is Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of Barrier Entry?
PESTLE was formerly know as...
What is PEST?
the series of steps consumers take to decide on whether a product or service meets their needs and is suitable for purchase.
What is Buying Process?
All factors within the company that influence market strategy
What is Internal Environment?
Go directly into the creation of a product or the execution of a service
What are Primary Activities?
Examines the ease or difficulty of entering a market for new competitors.
What is Threat of Barrier Entry?
The "P" in PESTLE analysis
What is Political?
This is the first step in the buying process.
What is Problem Recognition?
All the factors outside a business that can influence its operations, decisions, and overall success.
What is External Environment ?
Help primary activities become more efficient—effectively creating a competitive advantage
What are Secondary activities?
Focuses on the power customers have to demand lower prices or better quality
What is Buyer Power?
Laws around product safety and advertising standards.
What are Legal Factors
Age, occupation, income level, and lifestyle
What are Personal Factors?
The types of External Environment
What is Micro and Macro?
Two types of Primary Activities
What is:
Streaming services replacing cable TV is an example of what force?
What is Threat of Substitution?
This factor evaluates income levels, inflation, and unemployment trends
What are Economic Factors
Shared values, beliefs, and traditions in a community affect consumer choices.
What are Culture Factors?
One focuses on the direct impact on a firm and One is beyond the firms control
What is the Difference Between Micro and Macro?
Four types of Secondary Activities
What is:
Creator of the framework for analyzing industry structure through five competitive forces
What is Michael Porter?
Enables organizations to understand their external environment, identify potential threats and weaknesses, guide strategic decision-making, and adapt to change
What is PESTLE analysis?
How a consumer feels about their decision after making a purchase.
What is Post-Purchase Evaluation?