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The micro-environment consists of customers, partners, and competitors. [3] The most important aspect of micro-environment is the customer market. [5] There are different types of customer markets include consumer markets, business markets, government markets, globalization international markets, and reseller markets.
In addition to analysing current competitors, it is necessary to estimate future competitive threats. The most common sources of new competitors are: Companies competing in a related product/market; Companies using related technologies; Companies already targeting the target prime market segment but with unrelated products
The Competition Commission of Pakistan (CCP) (Urdu: کمپیٹیشن کمیشن آف پاکستان), formerly Monopoly Control Authority, is an independent agency quasi-regulatory, quasi-judicial body of the Government of Pakistan for the enforcement of economic competition laws in Pakistan that helps ensure healthy competition.
The main purpose of the competitor analysis is for businesses to analyze a competitor's current and potential nature and capabilities so they can prepare against competition. The competitor analysis looks at the following criteria: Identify competitors: Businesses must be able to identify competitors within their industry.
Competitive landscape is a business analysis method that identifies direct or indirect competitors to help comprehend their mission, vision, core values, niche market, strengths, and weaknesses. [1] Based on the volatile nature of the business world, where companies represent a competition to others, this analysis helps to establish a new mind ...
A graphical representation of Porter's five forces. Porter's Five Forces Framework is a method of analysing the competitive environment of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability.
Within monopolistic competition market structures all firms have the same, relatively low degree of market power; they are all price makers, rather than price takers. In the long run, demand is highly elastic, meaning that it is sensitive to price changes. In order to raise their prices, firms must be able to differentiate their products from ...
Context analysis is a method to analyze the environment in which a business operates. Environmental scanning mainly focuses on the macro environment of a business. But context analysis considers the entire environment of a business, its internal and external environment. This is an important aspect of business planning.