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Week 7 External analysis competition in an industry (Skimm read material…
Week 7 External analysis competition in an industry (Skimm read material & didn't answer activities properly)
Structure-Conduct-Performance (SCP) paradigm (Bain, 1956)
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industry structure
Porter (2008, p. 91):
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Scope of the industry: is the competition local, national, regional or global?
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AN industry
group of companies offering products or services that are close substitutes for each other – that is, products or services that satisfy the same basic customer needs.
(Hill et al., 2014, p. 44; emphasis in original)
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"some companies offer products/services related to different industries"
"some companies offer products/services in multiple geographic areas; each area has different industry features."
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Competitors
"Competitors are the firms whose strategic choices directly affect one another."
(Besanko et al., 2013, p. 166)
Defining industry
European Commission, to define industries. SIC standard Ind. classification
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Industry types
According to the SCP paradigm, the concentration of the industry influences the conduct of competitors and how they perform
‘market structures’ (Besanko et al., 2013, p. 172)
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