Industry and sector analysis - Competitors and makets
3 important questions on Industry and sector analysis - Competitors and makets
Which 2 issues are particularly important in market segment analysis?
- Variation in customer needs. Focusing on customer needs that are highly distinctive from those typical in the market is a way of building a long-term segment strategy.
- Specialization within a market. Also called niche strategy.
What 3 features are highlighted by the strategy canvas?
- Critical success factors (CSFs). Factors that are particularly valued by customers or provide a significant advantage in terms of cost.
- Value curves. Graphic depiction of how customers perceive competitor's relative performance across the CSFs.
- Value innovation. Creation of new market space by excelling on established CSFs on which competitors are performing badly and/or creating new CSFs for previously unrecognized customer wants.
What is a value innovator?
A value innovator is a company that has a radically different value curve and competes in "blue oceans".
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