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Industy evolution according to Porter
CJBS Digital Learning
Created on November 7, 2024
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Transcript
Stage 4 - Decline
Issues
- Substitution by newer technologies
- Demographic/social change
Strategies
- Focus or divest
Stage 3 - Transition to maturity
Issues
- Slow growth, some failing products
- ‘Overshot’ excess capacity, intense competition
- Increased customer power
- Extended product line
Strategies
- Shift from focus on distribution to branding, customer retention and loyalty
- Segmentation
- Efficiency focus
Stage 1 - Emergence
Issues
- Technological uncertainty
- Commercial uncertainty
- Customer uncertainty
- Channel uncertainty
Strategies
- Locate customers who are innovators and early adopters
- Establish standards
- Reduce switching cost risk
- Encourage trial
Stage 2 - Growth
Issues
- Difficult scaling decisions
- Seek leadership, or defensible niche?
Strategies
- Focus on distribution– new channels, new partners, additional segments
- Prioritise efficient growth ahead of customer service