I’ve worked in marketing for a number of years, and I know that it can be a thankless role at times. After all, the marketing department is a cost center, not a revenue center. It’s a function that is often highly scrutinized in terms of how dollars are being spent and what results are being achieved from those expenditures. Marketing staff is sometimes viewed as “squishy creative types” who don’t really understand business issues but like to throw money at bright, shiny things and the latest social media craze. (more…)
Posts Tagged ‘strategic analysis’
Marketers: Here’s How You Can Get That Seat at The Table
Tuesday, March 2nd, 2021Your Buyers Have Power: Maybe More Than You Think!
Wednesday, April 5th, 2017
In 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…)
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