Introduction service idea-lay out business-level strategy

Assignment Help Business Management

Reference no: EM133513470 , Length: Words Count:500

Assignment:

You should write no more than Five Hundred words for this question.

Answers beyond the word limit will NOT be marked.

Consider the paint manufacturing industry in terms of each of Porter's Five Forces:

• Threat of Entry: Very High (minimal capital investment needed, little proprietary technology, regional firms can compete in local markets due to high transportation costs, limited brand identification of existing competitors)

• Buyer Power: Very High (limited product differentiation, low switching costs, large retailer customers such as Bunnings)

• Supplier Power: High (especially for petroleum derivative raw materials-a key input in industry)

• Substitute Products: Moderate (plastics, wood paneling, wallpaper coverings, etc.)

• Rivalry: High (competition is based mostly on price competition, because of limited brand loyalty and product differentiation; easy entry and exit from the industry gives rise to frequent price wars)

1. What does this suggest about the industry attractiveness?

2. Imagine that you are an entrepreneur planning to launch your venture in this industry. What the product or service will you develop? Introduce one (1) product/service idea and lay out the business-level strategy for this product/service using generic strategies framework. In doing so, explain why you believe this is the best strategic positioning for your product/service.

3. Please reflect on how the product or service idea and the chosen generic strategy of your venture (your answer to Q2-b) can help deal with competitive forces of the industry as indicated in the Porter's 5 Forces analysis in the above. In your answer, explain how the business idea and strategy of your venture will be able to reduce the pressures from two (2) forces.

Reference no: EM133513470

Questions Cloud

Under what circumstances is rehabilitation effective : Under what circumstances is rehabilitation effective? Analyze ethical and legal issues/standards you would take into consideration before implementing your plan

Financial statement of foreign operations : Why do we need to translate the financial statement of foreign operations?

How might the assignment be structured to permit this : The five-acre parcel near the lake is rented out to campers in summer. Is this assignment within the CRA's scope of practice? If not, how might the assignment

How much taxable income does priya recognize : Priya works for the Shine Company, retailer of upscale jewelry. How much taxable income does Priya recognize.

Introduction service idea-lay out business-level strategy : Introduce one (1) product/service idea and lay out the business-level strategy for this product/service using generic strategies framework.

Can social business become a mainstream business model : Can social business become a mainstream business model? Discuss why or why not. Then, discuss the challenges and opportunities of social business.

How can you apply what you learned about communication : How can you apply what you learned about communication, problem solving, and innovation to your personal, professional, and academic life?

Does entrepreneurship require innovation : Entrepreneurship can be complex and confusing. For example, does entrepreneurship require innovation? Or maybe it requires novelty? Or maybe simply new venture

What was the purpose of your purchase : What was the purpose of your purchase? What information did you gather before your purchase? What criteria did you use to judge the alternatives?

User Account

All Pages