Dynamics within a particular industry which usually affect making for all business producing similar / substitute policies in particular area. Usually shapes the nature of the stakeholder consumer behavior, characteristics of the products and consumers.
- Helps to determine market share and market segment.
- Help to determine market growth rate
- Influences dependence and interdependence factors of products
- Influences sources of factors of production.
- Influences competitive dynamics
If a group of industries are together they design industry policies where industry environment can provide unique opportunities for the existence of that industry. This opportunities may be created either radically or through increments.
If the change is radical it implies drastic changes in the production and consumption policies.
Also implies drastic changes in the rules and regulations and procedures in a given industry.
Implies unique and drastic development in the market growth rate and market share.
It the change is incremental i.e implies gradual adjustment of all the marketing variables and hence no drastic experience for the individual business.
Titany answered the question on November 29, 2021 at 13:03
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