Dejavuuuu…
Today has been about competitive analysis and how we see other competitors. How it’s effecting other customers. In groups we looked at PESTEL which stands for political, economic, technology and legal forces. This helps to analyse the factors that are effecting the business’s performance. I was able to understand this section of this week’s objectives as I’m currently in the process of researching in depth about this particular section (PESTEL). Therefore, I feel fortunate to have background knowledge on these key terms and makes it easier to follow Marks seminar.
Today has been about competitive analysis and how we see other competitors. How it’s effecting other customers. In groups we looked at PESTEL which stands for political, economic, technology and legal forces. This helps to analyse the factors that are effecting the business’s performance. I was able to understand this section of this week’s objectives as I’m currently in the process of researching in depth about this particular section (PESTEL). Therefore, I feel fortunate to have background knowledge on these key terms and makes it easier to follow Marks seminar.
Another theory was learnt
called Porters five forces:
It includes factors of barriers to entry, threat of substitutes, competitive rivalry, power of suppliers and power of buyers. This enables to position the business against its competitors.
It includes factors of barriers to entry, threat of substitutes, competitive rivalry, power of suppliers and power of buyers. This enables to position the business against its competitors.
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