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Considering market forces

9 months ago
admin5276
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Your research is intended to assist you to think through whether you can be competitive in a specific market. If you are competitive, you will thrive; if you are not competitive, you will not succeed. There are two models which may be useful both in helping you to direct your research systematically and in analysing what you have learnt from your research.

If you are competitive, you will thrive; if you are not competitive, you will not
succeed.

The first of these two models, shown in figure 1, portrays the key market forces and influences that can affect market performance and future trends. You may recognise it as a combination of what is often referred to as PEST Analysis (political, economic, social and technological influences), and the concept of the Five Competitive Forces of markets which was developed by Michael Porter of the Harvard Business School.