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Business Strategy: External Analysis

Let me introduce a modified version of my favorite tool for performing external analysis: Porter’s Five Forces Model of Industry Attractiveness. Porter’s Five Forces Model is a framework for assessing long-term profitability in an industry. It is used to fill in the opportunities and threats sections of a SWOT table. It evaluates how profitable a well-positioned product…

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An Introduction to Marketing: Price

Welcome to my fourth post on marketing. If you have not read the first three posts, I encourage you to read the introduction post and the articles on products, people, promotion, and place before reading this article. The fifth P being “Price” is extremely important in all aspects of business. From the buyer’s perspective, price determines if the product…

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