Industry Analysis and Business Planning

When businesses plan to enter a new market, they conduct an industry analysis to identify barriers to market entry. This is crucial for strategic business planning and protecting marketing positions. By identifying the barriers to entry, an industry can better understand the challenges new entrants may face. Barriers to entry act as a protective mechanism for established companies by safeguarding their market positions and providing a competitive advantage. For instance, if there are strong barriers to entry, a business may not have to be as concerned with new competition arising and may be able to use its resources better. Conducting a comprehensive industry analysis for your business will help you be able to recognize these barriers and devise strategies to either enter a new market or fortify its position to thwart potential threats.

In this course on Industry Analysis and Business Planning, we focus on the critical elements that can make or break your business. We explore industry concentration and capacity, shedding light on power dynamics and growth opportunities. We also walk you through the industry lifecycle's four stages: introductory, growth, maturity, and decline. 

Learning Objectives

• Understand business planning
• Explore finance and business planning
• Identify industry characteristics and influences