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英国essay代写精选:医药产业的产业分析

2017-03-20 | 来源:51due教员组 | 类别:Essay代写范文

这篇文章主要是讲了读者基本的了解制药行业是如何定义已经模型将被用来分析。最重要的定义是由Michael Porter在1979:一个“竞争对手生产的替代品,是足够接近,任何公司的行为影响每一个其他人直接或间接。”这篇essay由51due英国论文代写平台整理,供大家参考阅读。

 

Definition of Industry

 

The most important definition of industry was given by Michael Porter in 1979: a "group of competitors producing substitutes that are close enough that the behaviour of any firm affects each of the others either directly or indirectly."

 

Later, Porter defined the term more precisely as "a group of companies offering products or services that are close substitutes for each other, that is, products or services that satisfy the same basic customers' needs." This new definition emphasizes the importance of industry borders and industry's role as a market supplier or producer of goods and services, as distinguished from a market, defined as a consumer of goods and services.

 

Furthermore, inside every industry there are groups of companies that follow similar strategies, defined by Michael S. Hunt in his unpublished 1972 Ph.D. dissertation as strategic groups. Between these groups there are differences in entry barriers, bargaining power with buyers and suppliers and skills and resources . Strategic groups compete against each other within the industry as a result of these differences.

 

Models to Analyse the Industry and Its Environment

 

The literature agrees that comprehension of the industry structure is essential to developing a firm's strategy and has a greater effect on the firm's performance than whether it is business-specific or corporate-parent. The comprehension of the structure requires analyses of the industry's life cycle. It also requires step-by-step political, legal, technological, social and economic analyses as well as the five driving forces of business, provided by Michael Porter. By utilizing these analysis techniques, it is also possible to anticipate changes in industry competition and profitability over time.

 

Industry Life Cycle Analysis

 

There are different phases during the development of an industry. Every phases is characterized by a different environments which make competition assumes different the form. Through studying the life cycle, the industry realizes its stake in the market and its influence on consumers. The industry life cycle model includes four different phases: introduction, growth, maturity and decline.

The first phase, called introduction, is characterized by a low demand, whereas prices are high as a consequence of firm's inability to realize economies of scale. For this reason profits are low and losses are possible due to high amount of investments in new categories. Barriers to entry are primary based on technologies and competencies. Strategy is focused mainly on R&D and production, with the goal of enhancing novelty and quality. Competitors, attracted by the rising demand, attempt to replicate the new product.

 

In the second phase, growth, the use of the product is extended, demand grows, prices decline due to economies of scale, barriers to entry are lower and the threat of new entry is high. At this phase the technology is usually not exclusive property of one or more firms, and the primary reaction to competition is marketing expenditure and initiatives; profits are not very high because prices decline as competitors enter the market.

 

There is a transition period, or shake-out, between the second and the third phases. The shake-out involves finding and using all investment opportunities, because the market is near saturation and demand grows more slowly.

 

In the third phase, maturity, market growth is low or non-existent, and the focus shifts to gaining market share; demand is represented only by the substitution of products, investment in R&D decreases and there is little innovation.

 

In this phase firms seek cost reductions, and competition is based primarily on advertising and quality because of the low differentiation between products. Big firms acquire smaller players, while others are forced to exit. As a consequence of high barrier to entry, the threat of new entrants are low.

 

The last phase is decline, so called because of the continued decline in demand. Industries arrive at this stage for a variety of reasons. These include a change in social behaviours, demographic changes, international competition, technological innovations and increased customer knowledge. The buying process is based primarily on price rather than innovation. As a result, profit and revenues decline, and the industry as a whole may be supplanted.


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