Lecture Designing business plan: Unit 3 - Ngô Quý Nhâm

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Lecture "Designing business plan - Unit 3: industry and market analysis" presentation of content: Industry size, growth rate and sales projections, competition among existing firms, market analysis.

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Nội dung Text: Lecture Designing business plan: Unit 3 - Ngô Quý Nhâm

Unit 3: INDUSTRY AND MARKET ANALYSIS Ngô Quý Nhâm Email: quynham@gmail.com Web: sites.google.com/site/ngoquynham NGO QUY NHAM, MBA
Lecture outline  Industry analysis  Industry size, growth rate and sales projections  Industry structure  Key success factors  Industry trends  Market analysis  Market segmentation and target market selection  Buyer behavior  Competitor analysis  Estimate of annual sales and market share NGO QUY NHAM, MBA
Industry size, growth rate and sales projections  Rules of thumb  Always display financial information in a multiyear format, making it easy to spot trends.  Display information graphically if possible  Provide information about the industry on a regional, local or segment basis if possible  Avoid the temptation to report only positive or flattering information  Not only data but analysis and implications NGO QUY NHAM, MBA
Industry size  Industry size is normally displayed in money  Covers the data over three to five years  The size should be large enough to allow different competitors to serve different segment profitably but small enough that is not attracting large competitors NGO QUY NHAM, MBA
E.g. Insurance Industry NGO QUY NHAM, MBA
Growth rate  Should be reported in percentage basis  Provide interpretation of what number means  May compare to similar industries  May require a creative way  Use Internet, data from association NGO QUY NHAM, MBA
Industry sales projections  Report future sales projections for the industry  Use existing sources for projection  if you project the number yourself, explain how you arrive at your projections NGO QUY NHAM, MBA
Industry Structure Analysis Ease of entry into industry Bargaining Bargaining strength Intensity of strength of competition of suppliers customers Existence of substitutes NGO QUY NHAM, MBA
Competition Among Existing Firms The extent of competition among established firms depends on:  Competitive structure  Fragmented industry: low entry barriers & commodity-type products  price wars  Consolidated industry tacit agreement  Rate of industry growth  Amount of fixed costs  Excess capacity  Exit barriers (economic, strategic, emotional factors) NGO QUY NHAM, MBA
Vietnam’s non-life insurance market concentration NGO QUY NHAM, MBA
Potential Competitors  “The greater the barriers to entry, the higher tends to be above-normal profit”  Barriers to entry  Brand loyalty (product differentiation)  Cost advantage over new entrants (technology: learning curve)  Economies of Scale (Size)  Large fixed costs associate with marketing, association, R&D and design  Capital requirements  Government policy NGO QUY NHAM, MBA
The bargaining of customers Customers are most powerful when: 1. There are many small companies in supply industry and few, large buyers 2. The buyers purchase in large quantities 3. The supply industry depend on the buyers for a large percentage of its total orders 4. Low switching cost between supply companies 5. Buyers can purchase the input from several companies at once 6. Buyers can use the threat to supply their own needs through vertical integration NGO QUY NHAM, MBA
The bargaining power of suppliers  Suppliers become most powerful when: 1. The product that suppliers sell has few substitutes and is important to the company 2. The company’s industry is not an important customer to the company 3. Suppliers’ products are differentiated (to such an extent that it’s costly to change supplier) 4. Suppliers can use the threat to of vertically integrate forward into the company’s industry 5. Buying companies cannot use the threat vertically integrate backward NGO QUY NHAM, MBA
The existence of substitutes  Substitute products are ones of industries that serve similar customer needs  The existence of close substitutes presents a strong competitive threat  Key: Elasticity of substitution NGO QUY NHAM, MBA
Key Success Factors  Key success factors (KSFs): factors that determine the relative success of market participants.  The keys to unlocking the secrets of competing successfully in a particular market segment.  An industry may have 6-10 KSFs  KSFs vary widely by industry NGO QUY NHAM, MBA
Identifying Key Success Factors List the skills, characteristics, and core competencies that your business must possess to be successful in its market segment. Key Success Factor How Your Company Rates 1. Low 1 2 3 4 5 6 7 8 9 10 High 2. Low 1 2 3 4 5 6 7 8 9 10 High 3. Low 1 2 3 4 5 6 7 8 9 10 High 4. Low 1 2 3 4 5 6 7 8 9 10 High 5. Low 1 2 3 4 5 6 7 8 9 10 High Conclusions: NGO QUY NHAM, MBA
Example of KSFs  Quality of products  Competitive price  Brand name recognition  Quality of customer service  Access to distribution channels  Marketing  New product development NGO QUY NHAM, MBA
Industry trends  Environment trends  Economic trends  Social trends  Legal and policy trends  Technological trends  Business trends  Profit margins  Innovation  Inputs costs  New markets NGO QUY NHAM, MBA
Application Question NGO QUY NHAM, MBA
MARKET ANALYSIS NGO QUY NHAM, MBA