• Your idea must fulfill a need for your buyers andYour idea must fulfill a need for your buyers and
•
• Must do so in a way that's somehow superior to the competition, however Must do so in a way that's somehow superior to the competition, however you define it.
you define it.
If you want to be sure that your idea will do these two crucial things, you need to If you want to be sure that your idea will do these two crucial things, you need to know as much as you can about the following:
know as much as you can about the following:
•
• The marketing environmentThe marketing environment(Porters Five Force Model)(Porters Five Force Model)
•
• Your competitorsYour competitors (Competitors Analysis)(Competitors Analysis)
•
• Marketing strategyMarketing strategy (Perceptual Map)(Perceptual Map)
•
• Your target buyersYour target buyers(Segmentation, Target markets and Positioning)(Segmentation, Target markets and Positioning)
•
• Future market growthFuture market growth(BCG Matrix)(BCG Matrix)
The Environment in India:
The Environment in India:
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The Indian blade market consists of four broad segments The Indian blade market consists of four broad segments
1)
1) Flat bladesFlat blades 2)
2) DisposablesDisposables 3)
3) Twin bladesTwin blades 4)
4) Triple blades.Triple blades.
With this understanding of the basic classification of the Indian blade market, let us With this understanding of the basic classification of the Indian blade market, let us now see the tools that help a company, in general, and also us in understanding the now see the tools that help a company, in general, and also us in understanding the environment.
environment.
TOOLS:
TOOLS:
As stated above, a very important tool of studying the environment in any industry As stated above, a very important tool of studying the environment in any industry is the Porters Five Force Model explained below:
is the Porters Five Force Model explained below:
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The model of
The model of the Five Competitithe Five Competitive Forces was ve Forces was develodeveloped by ped by MichaeMichael E. l E. PortePorter inr in hi
his s bobook ok “ “ ComCompetipetitive tive StraStrategytegy: : TecTechniqhniques ues for for AnaAnalyzilyzing ng InduIndustristries es and and Competitors
Competitors” ” in in 1981980. 0. SiSincnce e ththat at titime me it it has becohas become me an an imimporportatant nt totool ol fofor r analyzing an organizations industry structure in strategic processes.
analyzing an organizations industry structure in strategic processes.
Porter’s model is based on the insight that a corporate strategy should meet the Porter’s model is based on the insight that a corporate strategy should meet the opport
opportunitiunities es and and threathreats ts in in the the organiorganizatiozations ns exterexternal nal envirenvironmentonment. . EspeciEspeciallyally,, competitive strategy should base on and understanding of industry structures and competitive strategy should base on and understanding of industry structures and the way they change.
the way they change.
Porter has identified five competitive forces that shape every industry and every Porter has identified five competitive forces that shape every industry and every ma
markrketet. . ThThesese e foforcrces es dedetetermrminine e ththe e inintetensnsitity y of of cocompmpetetititioion n anand d hehencnce e ththee profi
profitabiltability and ity and attrattractiveactiveness of ness of an an industindustry. The ry. The objectobjective ive of of corporcorporate ate stratstrategyegy should be to modify these competitive forces in a way that improves the position of should be to modify these competitive forces in a way that improves the position of
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•
• There is the possibility of the supplier integrating forwards in order toThere is the possibility of the supplier integrating forwards in order to obtain higher
obtain higher prices prices and margins. and margins. This thrThis threat is eat is especially hiespecially high whengh when
•
• The buying industry has a higher profitability than the supplyingThe buying industry has a higher profitability than the supplying industry,
industry,
•
• Forward integration provides economies of scale for the supForward integration provides economies of scale for the supplier,plier,
•
• ThThe e bubuyiying ng ininduduststry ry hihindnderers s ththe e susupppplylyining g inindusdustrtry y in in ththeieir r development
development (e.g. (e.g. reluctance reluctance to to accept accept new new releases releases of of products),products),
•
• The buying industry has low barriers to entry.The buying industry has low barriers to entry.
In such situations, the buying industry often faces a high pressure on margins from In such situations, the buying industry often faces a high pressure on margins from the
their ir supsupplipliersers. . The The relrelatiationsonship hip to to powepowerfurful l supsupplipliers ers can can potpotententialially ly redreduceuce strategic options for the organization.
strategic options for the organization.
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•
• Customers have low margins and are price-sensitive,Customers have low margins and are price-sensitive,
•
• Customers could produce the product Customers could produce the product themselves,themselves,
•
• The product is not of strategic importance The product is not of strategic importance for the customer,for the customer,
•
• The customer knows about the production costs of the productThe customer knows about the production costs of the product
•
• There is the possibility for the customer integrating backwards.There is the possibility for the customer integrating backwards.
THE GILLETTE CASE:
THE GILLETTE CASE:
The buyers as a result are not very powerful as there are no close substitutes, they The buyers as a result are not very powerful as there are no close substitutes, they
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