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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:
1.How attractive is the market we serve or propose to serve?
2. How attractive is the industry in which we would compete?
3. 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. This week this class will give our best to discuss these seven domains.
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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.
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