Archive for April, 2017

Best Practices in Using Live Streaming Video

Sunday, April 30th, 2017

8970947 - illuminated light bulb in a row of dim ones concept for creativity, innovation and solutionVideo has long been touted as a must-do in content marketing, particularly in a business-to-consumer (B2C) environment. Many marketers have used video to capture special moments; showcase products, services, and personnel; and provide how-to instruction of various types. One need only look to the tremendous popularity of YouTube to discern that video communication is something consumers crave. But, can video work in the business-to-business environment? Social media channels, videographers and content marketers are betting the answer is a resounding “YES”! (more…)

Please follow and like us:

It’s Tough to Avoid Negative PR These Days

Saturday, April 22nd, 2017

April has been a rough month for the airline industry. Delta—renowned for its low rate of delays and cancellations—probably saw itself as the pariah of the airline industry after “unprecedented” weather hit its main hub in the Atlanta metro and caused the cancellation of thousands of flights over the course of a few days impacting thousands of customers around the country.

But, then United stepped into the picture and a single incident with a single passenger on a single flight stole the negative publicity spotlight from a likely grateful Delta. (more…)

Please follow and like us:

Is Your Business at Risk From the Threat of New Entrants?

Thursday, April 20th, 2017

Any business school graduate has probably had a healthy dose of Michael Porter’s Five Forces, and for good reason. The framework is a great way to look at the competitive landscape. Porter’s framework is designed to look at the competitiveness of a particular industry, as opposed to companies within that industry. For example, you might use the framework to determine the attractiveness of starting a soft drink company, as opposed to investing in PepsiCo versus The Coca-Cola Company. We’ve provided a broad overview of the tool in the past, but we’ve recently been taking time to look at each individual force in greater detail. Today, we’re diving deeper in the threat of new entrants. (more…)

Please follow and like us:

The Power of Suppliers: Are You At Risk?

Tuesday, April 18th, 2017

Michael Porter’s Five Forces framework uses industrial organization economics to evaluate the attractiveness of an industry based on the overall level of competition within that industry. The more competitive an industry, the lower profits will be. Conversely, an industry with little competition is likely to be more profitable and, therefore, more attractive. We’ve already written on the Porter’s Five Forces generally. Now we’re looking at each of the forces individually and in greater detail. Today we’re taking a closer look at the supplier power. (more…)

Please follow and like us:

Best Practices in Handling the Loss of a Customer

Friday, April 14th, 2017

No business enjoys losing customers. But for some businesses, it’s a lot more damaging than for others. A grocery store, for example, can withstand a single customer going over to a competitor, possibly without noticing any business impact. But a food distributor serving eight grocery stores is going to feel some real pain if one of those stores takes its business elsewhere. For some industries comprised of small markets of large consumers, there may be a limited pool of candidates to replace a lost customer, and often the question is, “can we get them back?” Well, it’s certainly not easy. Leaving a B2B relationship is costly for both companies because the customer has to spend time and money finding a replacement vendor as well as a lot of effort adjusting its business processes to work with a new partner. Consequently, they won’t be eager to switch back just like that. But in the long run, it is possible to win back a lost customer. (more…)

Please follow and like us:

Competitive Rivalry: What’s the Situation for Your Business?

Tuesday, April 11th, 2017

Michael Porter developed his Five Forces framework as an associate professor at the Harvard School of Business in 1979 as a way to help evaluate the attractiveness of different industries based on the primary five forces he saw driving the competitive environment of those industries. We’ve covered the framework generally, and now we’re looking at each individual force. Today we look at competitive rivalry. (more…)

Please follow and like us:

Your Buyers Have Power: Maybe More Than You Think!

Wednesday, April 5th, 2017

38309393 - group of different families together of all racesIn 1979, Michael Porter, an associate professor at Harvard Business School, developed what would become known as Porter’s Five Forces, a framework intended as a tool for determining the attractiveness of certain industries based on the level of competition within those industries. The five forces — threat of new entrants, threat of substitutes, supplier power, buyer power and competitive rivalry — collectively determine the degree of competitiveness within an industry. We’ve written about the framework as a whole. Now we’re looking at each force in depth. Today, we look at buyer power. (more…)

Please follow and like us: