Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

Write a 75 word response to each of the two following peer responses for a total of 150 words. Do not be negative and make sure to include things you like about their post. Peer Response OneAn...

1 answer below »
Write a 75 word response to each of the two following peer responses for a total of 150 words. Do not be negative and make sure to include things you like about their post.
Peer Response OneAn embryonic industry is just beginning to develop and a growth industry is one in which first-time demand is rapidly expanding as many new customers enter the market. Managers must be aware of the competitive forces in embryonic and growth industries change over time because they frequently need to develop new competencies and refine their business strategies, in order to effectively compete in the future. Some key problems in maintaining a competitive advantage in embryonic and growth industries are: limited performance and poor quality of the first products, customer unfamiliarity with what the new product can do for them, poorly developed distribution channels to get the product to customers, a lack of complementary products that might increase the value of the product for customers, and high production costs because of small volumes of production. The dangers associated with being the leader in an industry is having to bear greater development costs to work out how to produce the technology and how to make it desirable to customers, and they bear greater missionary costs of educating customers about the product benefits. This could cause in some major debt and also has a chance of products being copied at a lower cost.

PEER RESPONSE TWOThe reasons industries are fragmented becauseeach person within the industry has a small share of the market compared to the complete total of the market's potential. No single company has a large enough share of the market to affect the direction of the said industry. The primary ways in which companies can transform from a fragmented industry into a complete consolidated industry are having the smaller companies make a horizontalmergers with similar companies within the same industry. A consolidated industry us when a few large companies control a large market share. The barriers of entry becomes much more difficult and higher for new emerging companies. The products become specialized and more differentiated. An example of industry consolidation within recent years is the merger of several smaller cellphone companies such as Alltel, Leap Wireless, and MetroPCSinto the now major cellphone companies such as VerizonWireless, AT&T, T-MobileUS and Sprint who claim 90% of the US wireless market.

Answered Same Day Jul 26, 2021


Parul answered on Jul 27 2021
98 Votes
Reply to Post 1
An em
yonic industry is refe
ed to those that are just at the verge of beginning. Such industries are beginning to develop by the virtue of various technological innovation. Furthermore, em
yonic industry creates many new opportunities for its products and services. While on the other hand growth industry are one where their first-time demand is expanding tremendously as new customers are inclined to enter the market for these products. Indeed, I agree with you the underlying reason for slow growth in market demand can be because of performance related issues and quality compromises of products and services. What I want to add here is customer ignorance with the new service or product offerings. This is because the customer...

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here