Answered: An industry's key success factors A)…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

An industry's key success factors

A) can be determined from studying the "winning" strategies of the industry leaders and ruling out as potential key success factors the strategy elements of those firms considered to have "losing" strategies.

B) depend on the relative competitive strengths of the industry leaders and how vulnerable they are to competitive attack.

C) are a function of market share, entry barriers, economies of scale, degree of vertical integration, and industry profitability.

D) can be determined through identifying an industry's dominant economic characteristics, assessing the five competitive forces, and considering the impacts of the driving forces.

E) vary according to whether an industry has high or low long-term attractiveness.

Expert Solution

Step 1

Key success criteria sometimes referred to as competitive emphasis or strategic posture, list the critical components necessary for a business to compete in its target markets.