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市场吸引力 Market Attractiveness

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竞争策略（中文版）

Ludwig-Maximilians-Universität München (LMU)

4.8 (443 ratings) | 51K Students Enrolled

This is a Chinese version of Competitive Strategy. You can find the original course in English from our course catalog. 此版本是Coursera首次尝试推出的中文翻译版。课程视频为英文原版附中文字幕，课程页面和测验已译成中文，帮助中心提供中文支持。在本课程（共六个模块）中，你将了解企业在战略决策相互依存的情况下如何行事。例如，你的行动会如何影响竞争对手的利润，反之亦然。我们将会借助博弈论的基本工具分析企业如何选择策略以获得竞争优势。

Skills You'll Learn

Game Theory, Strategic Thinking, Competition (Economics), Porter'S Five Forces Analysis, Strategic Management

Reviews

4.8 (443 ratings)

5 stars
385 ratings
4 stars
51 ratings
3 stars
6 ratings
1 star
1 ratings

EE

Mar 15, 2016

非常喜欢这门课，也喜欢授课教授: 言语不多但通过问题式教学和案例分析将难点解析得很清楚。\n\n建议对策略和博弈有一定了解后学起来更有趣味。

AL

Dec 22, 2015

Nice course.\n\nBut the Chinese translation is weird.

From the lesson

进入新市场 Entering a New Market

本模块与市场进入有关。我们首先看一下用于评估市场吸引力的不同工具，再讨论已被证明有助于进入新市场的策略。我们也会从其他角度分析这一现象，了解现有企业为了阻挡新竞争者进入市场需要采取的措施。

市场吸引力 Market Attractiveness6:25

结构性进入壁垒 Structural Entry Barriers12:41

战略性进入壁垒 Strategic Entry Barriers6:55

Taught By

Tobias Kretschmer
Professor

Transcript

Welcome to this first lecture in Week 4. So in this first lecture, we're going to

look at the choice of market, and specifically at the attractiveness of a

market. How does this all fit in to the overall

process of entry? So planning entry starts with figuring

out if your firm can even start thinking about entering a market.

Do they have the resources? Do they have the financial resources?

Do they have the managerial resources? Are they in any way unhappy with the

current business? If that's the case, then thinking about

entering a new market might be a good idea.

In the second step, they have to choose which market they want to enter and we're

going to look at that in more detail. If they've decided which market they

enter, they have to choose an entry type, which we're going to get to later.

And finally, they have to choose an entry strategy but for now, let's focus on the

choice of market. The choice of a market means that we're

going to look at the attractiveness of a particular market and see well, does it

make sense for us to enter an industry, enter a geographical market that

we've just analyzed. Secondly, when we do think of entering,

are there any entry barriers that we have to think about,

and we have to take into consideration. When we think about market

attractiveness, the most commonly used tool is a framework called Porter's Five

Forces, named by Michael Porter who is a professor at Harvard Business School.

So Porter's Five Forces basically describes a set of five different

characteristics of a market that determine the attractiveness of this

particular market or industry. And the first, and probably the most

important one, is how intensive, how intense competition within the single

industry is. Right, so if you have harsh competition

between lots of players, then that may mean that each of these players

doesn't make a great deal of profits. And in that case, entering is not an

attractive proposition for you yourself. Suppliers play a big role.

And that may seem counter-intuitive, but for now suppliers exert bargaining power.

So as someone who has to buy inputs day in day out from a particular group of

suppliers or from one particular supplier, you're going to be concerned about the fact

that he may have bargaining power over you, okay, so that's something that you

need to worry about. The same with buyers.

So if buyers hold large bargaining power, maybe because they buy up a large share

of your output. So think of someone who sells mainly to

governments or to large institutions. Then here, every single contract, every

single sale, is going to make a big impact on your annual profits.

So therefore, the customer, a buyer who's very important to you, who represents a

large share of your overall revenue, is going to mean that he holds bargaining

power over you, which might depress your profits, might

lower your profits in the long run.

Potential new entrants, so this is an interesting one because on the one hand

a market becomes more attractive if it's hard for firms to come in.

Okay, so this is not going to erode profit margins if other players cannot

come in so if the entry barriers are significant.

On the other hand if you put yourself in the shoes of a potential entrant then

high entry barriers are of course a disadvantage that may be a problem in

that case. Finally, substitutes, the role of

substitutes is an important one. Because if you can replace whatever

you're currently selling, whatever is currently being sold in the market, by

something that's very close, something that's very similar,

then the industry itself might not be an attractive one.

Why is that? Well, if you try to raise prices,

if you try to increase your profit margin,

and most of your customers are going to go and buy a substitute,

then, you're unlikely to be making huge profits from that particular market.

So, the role of substitutes means that if there are close substitutes, that

increases the price elasticity, the price sensitivity of consumers,

which means that your consumers are going to start running away the moment

you start trying to increase your profits.

So all in all, we've got these five forces: competition within the industry,

suppliers, buyers, potential new entrants, and substitutes.

Finally, while not part of the formal five forces, we also have to consider

government regulation and taxation. So of course if you're in a market that's

highly regulated, then you might not be making the amount of profits that you

would otherwise expect to make. So government regulation is going to be

an important factor in some industries, all right?

Some industries are just highly regulated which makes it more difficult for firms

to act as they like which makes it more difficult to choose strategies basically

unrestricted by any other rules and guidances.

So, to sum up now, if we think about the process of entry, and if we think about

choosing a particular market, market attractiveness is determined by

Porter's Five Forces plus the role of the government.

So, the Porter's Five Forces are competition within the industry, the role

of suppliers, the role of buyers, the threat of entry and finally, the role

of substitutes, okay? So these five forces plus government are

going to determine how attractive a market is going to be.

So thanks very much and I'll see you in the next lecture.

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