Effects of dominant economic features in an industry

Question

What are the effects of dominant economic features in an industry?

Answer 1

Consider in identifying an industry’s dominant economic features give a convenient synopsis of what economic features to look at and the consequent questions to regard as in profiling an industry’s landscape.

• Receiving a handle on an industry’s unique economic features not only sets the phase for the study to come but also promotes considerate of the types of strategic moves that industry members are probable to employ.

• The larger the scale economies in an organization, the extra imperative it becomes for the competing vendors to pursue strategies to win further sales and market share – the company with the largest sales volume gains sustainable competitive benefit as the low-cost producer.