Topic : 2 Markets and Competitive Space. Dr. Ehsanul Huda Chowdhury. Markets Impact Strategies. Market changes often require altering strategies Forces of change create both market opportunities and threats Inherent danger in faulty market sensing. Value Migrations.
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Dr. Ehsanul Huda Chowdhury
“A product – market is the set of products judged to be substitutes within those usage situations in which similar patterns of benefits are sought by groups of customers.”*
*Srivastava, et al. (1984) Journal of Marketing, Spring, 32.
Customer Needs at the Center of Strategy
Source: Adapted from Mitchell, Adrian (2004)”Heart of the Matter,” The Marketer, June 12, 14.
Define Product-Market Boundaries and Structures
Identify and Describe End-Users
Analyze Industry and Value Added Chain
Evaluate Key Competitors
Forecast Market Size
and Growth Trends
Illustrative Fast-Food Product-Market Structure
Food and beverages
for breakfast meal
Ready to eat
1.Define Industry Structure and Characteristics
2. Identify and Describe Key Competitors
CONSUMER/ ORGANIZATIONAL END USERS
Source: Michael E. Porter, Competitive Advantage, Free Press, 1985, 5.
Product-Market Forecast Relationships(area denotes sales in $’s)