What the product or service will you develop

Reference no: EM133490599

Case: 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)

a. What does this suggest about the industry attractiveness?

b. 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 ideaand 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

c. 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

Reference no: EM133490599

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