What is the importance of correctly identifying and choosing a firm’s industries and markets?

Case_study_smartphone_nokia

Market selection in business strategy development

Submit a 3- to 5-page analysis of the influence of market selection in business strategy development

Submit a 3- to 5-page analysis of the influence of market selection in business strategy development. Your analysis should address the following:

  • What is the intensity of rivalry—high, medium, or low—within the smartphone manufacturing industry? Explain your answer using the Rivalry Strategy Tool.
  • What is the intensity of supplier power—high, medium, or low—within the smartphone industry? Explain your answer using the Rivalry Strategy Tool.
  • What is the importance of correctly identifying and choosing a firm’s industries and markets? Justify your answer with at least one example.
  • How does accounting for gaining and sustaining competitive advantage impact the success of business strategy development? Explain.

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