Just as no single person can function on their own, neither can a company. All companies are bound by global trends and standard practices, a phenomenon that is called the …
Category:
Competitive Environment
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Competitive EnvironmentMarketing Basics
Macroenvironmental Factors – Six Forces that Affect a Business
by MaxMacroenvironmental factors are those external forces that shape how businesses operate, perform, and make decisions. These forces are usually outside of the control of an individual business and every corporation …
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Competitive EnvironmentMarketing Analytics
Macro Environment Analysis – Using the PESTLE Method to Analyze the Macro Environment
by MaxThe macro environment shapes the marketplace and should be a key guiding factor when developing a marketing strategy. Therefore, analyzing the macro environment carefully is crucial to business success. This …
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Competitive EnvironmentMarketing Basics
The Macro Environment in Marketing – Why is it important and how to work with it?
by MaxThe Macro Environment is the larger context a business operates in. Therefore, the role of the macro environment in marketing is of immense importance. Consequently, it is absolutely critical for …
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Competitive EnvironmentMarket Segmentation
Target Market Identification – How to Figure Out Your Perfect Target Market
by MaxYour target market consists of the people most likely to buy your products or services. Unfortunately, for many businesses, finding their target market can be difficult without the right research. …
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Competitive EnvironmentMarketing AnalyticsMarketing Basics
Five Forces of Porter Framework – Assessing the Attractiveness of an Industry
by MaxThe Five Forces of Porter framework is a rather useful tool to determine the attractiveness of an industry. Named after Michael E. Porter, the Five Forces of Porter framework dictates …
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Competitive EnvironmentMarketing Analytics
Competitor Analysis – 4 Types of Competitors in the Market Environment
by MaxProviding superior customer value is necessary, but not sufficient for success in the marketplace. Besides fulfilling the needs of customers, marketing strategies must build a decisive advantage over the competition. …
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Competitive EnvironmentMarketing Basics
Factors influencing Intensity of Competition in an Industry
by MaxThe intensity of rivalry between existing competitors in a market or industry depends on a number of factors. It is important to be aware of these factors influencing intensity of …