 Marketing Management, 4/e Harper W Boyd
Orville C Walker, Jr
John W Mullins
Jean-Claude Larreche
Industry Analysis and Competitive Advantage: Setting the Stage for Marketing Success
Chapter Overview- Companies are more likely to be successful in generating sales and profits if the opportunities they pursue are blessed with the following conditions:
- Driving forces for the industry are favorable.
- The industry’s five forces are, on balance, favorable.
- The capabilities of the firm and/or the management team are sufficient to perform with respect to the industry’s critical success factors.
- Local competitive conditions are favorable.
- In other words, choosing an attractive industry, as well as a growing market, is important!
- An innovation is more likely to be successful if it will diffuse at a rate rapid enough to quickly establish customer loyalty and advantage over competitors. This chapter provides a framework for assessing this likelihood.
- Regardless of the nature of the playing field, developing and regularly updating winning marketing strategies are important, too! In developing strategies to build and sustain competitive advantage, marketing decision makers are more likely to win the competitive war by adjusting their strategies as the markets and industries in which they compete evolve through the stages of the product life cycle. Specific tools and frameworks for managing this task are provided in the balance of this book.
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