Is the industry advertising intensive?. Objectives Examine industry structure, with a focus on advertising intensity, in the context of entrepreneurial.

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Presentation transcript:

Is the industry advertising intensive?

Objectives Examine industry structure, with a focus on advertising intensity, in the context of entrepreneurial industry status Explore the impact of advertising intensity on your success as an entrepreneur

Exploring industry structure With industry conditions framing knowledge and demand factors, it’s important to understand industry status –Industry status addresses industry lifecycle and industry structure with an emphasis on growth opportunities and industry evolution By studying industry structure, aspiring entrepreneurs can assess the industry’s timeliness for new entrepreneurial entrants

Macroeconomic Change Entrepreneurial Motivation Entrepreneurial Behavior Industry Condition Industry Status Industry lifecycle Industry structure Opportunity Identification Value Curve Competition The Opportunity Analysis Canvas TM Entrepreneurial Mindset

Defining advertising intensity “importance of advertising and branding to the success of competitors in a specific industry” Capital intensity Advertising intensity Company concentration Average company size

High advertising intensity industries Customers prefer to buy from companies –Based on past successful transactions –Offering of preferred products or brands Established companies may have a reputation for success –New ventures find it harder to attract customers Perks –Loyalty program rewards

Low advertising intensity industries Customers are open to trying new products –Willingness of customers to buy new brands Influences may includes –No established product leaders –Low switching costs –Differentiation and/or value of new venture This is the preferred scenario for new ventures

Summary By studying industry structure, aspiring entrepreneurs can assess the industry’s timeliness for new entrepreneurial entrants –And better understand how to compete Low advertising intensity presents a more affordable opportunity for new entrants to enter and compete effectively –Also suggests that brand loyalty of incumbents is more surmountable by new entrants