Презентация, доклад lnternational Marketing lnternational Marketing Chapter 7 Global competitive strategy
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lnternational Marketing lnternational Marketing Chapter 7 Global competitive strategy
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Industry analysis Industry analysis (Five Forces Model) Competitive advantage and strategy Global competition
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A. .Industry analysis Five Forces model Michael Porter's famous Five Forces of Competitive Position model provides a simple perspective for assessing and analysing the competitive strength and position of a corporation or business organization.
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The five forces are environmental forces that impact on a company’s ability to compete in a given market. The five forces are environmental forces that impact on a company’s ability to compete in a given market. The purpose of five-forces analysis is to diagnose the principal competitive pressures in a market and assess how strong and important each one is.
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Q1: For what reasons.the rivalry among the Q1: For what reasons.the rivalry among the industry will be increased? Q2: How to set barriers to new entrants? Q3: In which situation. buyers have strong bargaining power? Q4: In which situation. suppliers have strong bargaining power? Q5: What determine the threat of Substitute Products?
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1. Rivalry Among Existing Competitors What cause the increase of rivalry among the industry? A larger number of firms Slow market growth High fixed cost High storage cost
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Low swithing cost Low swithing cost Low level of product differentiation Strategic stakes are high High exit barriers
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In pursuring anadvantage over its rivals. In pursuring anadvantage over its rivals. A firm can choose from several competitive moves: Changing prices Improving product differentiation Creatively using channels of distribution Exploiting relationships with suppliers
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2.Threat of New Entrants Profitable markets that yield high returns will attract new firms. This results in many new entrants, which eventually will decrease profitability for all firms in the industry. Inductries possess characteristics that protect the high profit levels for firms in the market.There are barriers to entry.
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Capital Requirements Patented or proprietary know-how Difficult in brand switching Restricted distribution channels High economies of Scale Goverment policy Barriers to Entry
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3. Bargaining Power of Suppliers Suppliers are likely to be powerful if : High cost to switch suppliers Supplier industry is dominated by a few firms Suppliers’ products have few substitutes Buyer is not an important customer to supplier Suppliers’ product is an important input to buyers’ product Suppliers’ products are differentiated
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4. Bargaining Power of Buyers Buyer groups are likely to be powerful if : Buyers are concentrated or purchases are large relative to seller’s sales Purchase accounts for a significant fraction of supplier’s sales Products are undifferentiated Buyers face few switching costs Buyers’ industry earns low profits
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5.Threat of Substitute Products Products with improving price/performance tradeoffs relative to present industry products A threat of substitutes exists when a product’s demand is affected by the price change of a substitute product.
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Factors that determine the threat of substitute Factors that determine the threat of substitute products? Buyer propensity to substitute Relative price performance of substitute Buyer switching costs Perceived level of product differentiation
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Number of substitute products available in the market Number of substitute products available in the market Ease of substitution. Information-based products are more prone to substitution, as online product can easily replace material product. Substandard product Quality depreciation
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B. Competitive advantage An advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. There can be many types of competitive advantages including the firm's cost structure, product offerings, distribution network and customer support.
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1. Cost advantage strategy It is a firm's ability to produce a good or service at a lower cost than its competitors, which gives the firm the ability sell its goods or services at a lower price than its competition or to generate a larger margin on sales.
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