The Business You're In

Overview: This article discusses the issues relating to Industry Analysis. Industry Analysis refers to everything in your industry that happens outside of your business will effect your company. The more you know about your industry the more advantage and protection you will have. You should know who else sells in your market. You can't easily describe a type of business without describing the nature of the participants. There is a huge difference, for example, between an industry like broadband television services, in which there are only a few huge companies in any one country, and one like dry cleaning, in which there are tens of thousands of smaller participants. Products and services can follow many paths between suppliers and users. Explain how distribution works in your industry. It is essential to understand the nature of competition in your market. This is still in the general area of describing the industry, or type of business. Explain the general nature of competition in this business, and how the customers seem to choose one provider over another. What are the keys to success? What buying factors make the most difference--Price? Product features? Service? Support? Training? Software? Delivery dates? Are brand names important? This article covers all aspects of Industry Analysis and what information is beneficial for the analysis.

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Format: HTML | Date: Sep 2003 | Pages: 1