lecture 4 - 6370 consumer behavior.pptVIP

* * * * * * * *Copyright ? 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Marketing Strategy: A Decision-Focused Approach by Walker Prepared by Anton Kriz, The University of Newcastle 4 lecture Understanding Market Opportunities Chapter Summary  This Chapter will introduce you to the following: The Mobile Telephone Business: Increasing Competition in a Growing Market Seven Domains of Attractive Opportunities Markets and Industries: What’s the Difference? Macro Trend Analysis Determining Industry Attractiveness Porter’s Five Competitive Forces Understanding Industries and Markets at the Micro Level Exhibit: 4.1 The Seven Domains of Attractive Opportunities Macro Level Micro Level Market Domains Industry Domains Mission, Ability to Aspirations, Execute Propensity on CSFs for Risk Connectedness up, down and across Value Chain Team Domains Market Attractiveness Target Segment Benefits and Attractiveness Industry Attractiveness Sustainable Advantage Difference between Markets and Industries A market is a group of individuals or organisations having the willingness and ability to buy goods or services to satisfy a particular class of wants or needs An industry is a group of organisations offering goods or services that are similar and close substitutes for one another Macro Trend Analysis The macroenvironment can be divided into six major components: Demographic Sociocultural Economic Regulatory Technological Natural Macro Trend Analysis (continued) Demographic trends: Demography is destiny Ageing population AIDS and variations in global population growth Increase in immigration and declining marriage rates Sociocultural trends: Can take a generation or more to have a significant impact, however, they do exert a powerful impact Importance of business ethics Changes in fitness and nutrition Economic trends: Increase or decrease of interest rates The US economy is not in very good shape, with the housing