Investigating the Problem
In this course, the problem/opportunity you will investigate from a marketing perspective is how an industry/organization best creates value for its stakeholders. A Porter’s Five Forces analysis can provide helpful information about an industry to identify its stakeholders, as well as its strengths and vulnerabilities. Examples of an industry weakness is the possibility of close substitutes outside the industry and/or the relativity high power of buyers within the industry. Also important to know is what are the stakeholders’ cultural distinctives and how do they influence marketing? An industry analysis can help determine some preliminary steps for an industry/organization to better create value. For PBL Step 1, the PBL team’s deliverable is a Porter’s Five Forces analysis of their assigned industry.