Week 4 Class Discussion topic comes from —
Chapter Three “Business Strategies and Their Marketing Implications”
Chapter Four “Understanding Market Opportunities”
Chapter Five “Measuring Market Opportunities: Forecasting and Market Knowledge”
This class expects you to contribute two times:
When entrepreneurs and corporation marketing decision makers face either (1) an opportunity to enter or (2) an attempt to increase their share of a growing market, they must get a clear assessment of the following three questions raised in Chapter Four:
- How attractive is the market we serve or propose to serve?
- How attractive is the industry in which we would compete?
- Are the right resources — in terms of people and their capabilities and connections — in place to effectively pursue the opportunity at hand?
To respond to the above three questions, Exhibit 4.1 “The Seven Domains of Attractive Opportunities” (attached) uses seven domains to undertake a thorough examination.
Your contribution one — answer one question only out of five questions below —
Question #1 To assess market attractiveness at macro level, what are six major components that marketers must looked at? Explain each component briefly.
Question #2 To assess industry attractiveness at macro level, what are five forces (also called Porter’s Five Competitive Forces) that determine it? Explain each force briefly.
Question #3 To understand markets at the micro level, what kind of situations would be called as attractive? Explain why.
Question #4 To understand industries at the micro level, what kind of capabilities corporation should have when attractive opportunities are there for taken? Explain why.
Question #5 To pursuit attractive opportunities, people who will pursue them must be “fit” in one way or another defined as “Team Domains”. What are three “Team Domains”? Explain each domain briefly.