vmartinez

 

You work for a luxury brand or offer a very niche service. Will consumer power be high or low according to Porter’s 5 Forces Model?

 

• Customer power will be high

 

• Customer power will be low

 

 

What does Porter’s 5 Forces Model do?

 

• This model helps you identify the relationship between various internal and external factors, and create an actionable strategy based on these insights.
• This model shows you the competitive landscape in regard to the 2 key criteria you specify. It helps to prioritize which competitors you should look at first.
• This model helps you assess the overall competitive environment of a particular business sector.

 

 

You can use Google Analytics to analyze your audience and take a look at the audience of your competitors, who could potentially become your customers.

 

• False

 

• True

 

 

What analysis can you do to identify external factors affecting your industry?

 

• PEST Analysis
• VRIO Analysis
• SWOT Analysis

 

 

Market Size – the total addressable market (TAM) and Serviceable Available Market (SAM) – reflects the amount of demand for products or services within the market and the portion of the market a given business could realistically convert. True or false?

 

• False

 

• True

 

 

Which statement is correct?

 

• A SWOT analysis assesses internal and external factors, as well as current and future potential. With it, you can determine your company’s position in relation to the competition and the market as a whole.
• A SWOT analysis gives you an overview of only internal factors that affect your business
• A SWOT analysis goes beyond identifying Strengths, Weaknesses, Opportunities, and Threats by matching the Strengths with Opportunities and the Threats with Weaknesses to discover actionable strategies.