TOUR3007 Lecture Notes - Lecture 2: Consumer Activism, Environmental Protection, Bargaining Power
Document Summary
To gather and analyse information systematically & thoroughly. Broad e(cid:374)viro(cid:374)(cid:373)e(cid:374)t outside a(cid:374) orga(cid:374)isatio(cid:374)"s i(cid:374)dustry a(cid:374)d (cid:373)arkets. Steep analysis: socio-cultural, lifestyle changes, career, consumer activism, growth-rate of population, regional shifts in population, life expectancies, birth rate, rate of family formation, technological. Rivalry among existing competitors: threat of new entrants, bargaining power of buyers/ customers and suppliers, threat of substitute products/services. Can highlight organisations strengths, weaknesses, relevant to industry. Analysing market potential: considers past & potential customers, uses combination of primary & secondary research. Who are the customers, what are their needs, how many, market segments, ideas/feelings about product etc. Helps to determine how a competitive advantage may be achieved. Resource analysis: resources (assets) to be developed & exploited, current performance of organisation and ability to exploit resources, physical, financial, human, innovation, reputational. Deter(cid:373)i(cid:374)ed (cid:271)y a(cid:373)ou(cid:374)t of value (cid:272)usto(cid:373)ers pla(cid:272)e o(cid:374) orga(cid:374)isatio(cid:374)"s goods/servi(cid:272)es (cid:894)v(cid:895) a(cid:374)d orga(cid:374)isatio(cid:374)"s (cid:272)ost produ(cid:272)tio(cid:374) (cid:894)(cid:272)(cid:895)
