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Analise E.On Uk, Through Studying Industry Dynamics And Porter's 5 Forces. Identify Competitiveness Of The Key Marketing Features In The Company, Through Studying Product Life Cycle And Innovation.

2297 words - 9 pages

Every business has objectives to achieve, and in order to do so a strategy has to be developed. Michael Porter (1980) defined strategy as ‘a broad formula for how a business is going to compete, what its goals should be, and what policies should be needed to carry out those goals.’ Industry dynamics must be studied to devise an appropriate business strategy. Industry dynamics enables marketing managers to explore information-feedback features of the industrial activity, to demonstrate how organizational structure in policies and in decision-making, interact and affect business performance. The process of making a series of operations to reach the business objective is called strategic planning. While doing strategic planning it is vital to analyze the strategic issues that the company has, and thus devise the most appropriate business strategy which will enable the company to strengthen its weaknesses and benefit from the opportunities that may open up. To analyze and discuss the strategic issues, using industry dynamics and Porter’s five forces, and then using Product Life Cycle and Innovation to identify the key marketing features and reflect on them in relationship to a company, consider one of UK’s leading energy companies, E.ON UK.‘Porter argues that the nature and degree of competition in an industry are a function of five forces.’(A. Murray & O’ Driscoll 1996, p.141). The five forces he identifies are the threat of new entrants, the threat of substitute products and services, the bargaining power of customers and that of suppliers, and the competitive rivalry for share. Each of these five forces plays a different role, depending on the industry, nevertheless the purpose is the same; to help managers understand the environment in which the industry is, and thus allow them to device the most suitable strategy. The threat of new entrants is an important feature in the analysis. It may be easy for companies to get into the industry when it has first established, as the barriers to entry are relatively low, however when profits rise the industry becomes more attractive, and thus more companies are willing to enter this industry. The extent of difficulty of entering will depend on several factors. The major sources of barriers to entry are the economies of scale, product differentiation, capital requirements, customer loyalty, government policy and access to distribution channels. E.ON holds a strong position in the industry, and thus creates strong barriers for those willing to enter the industry or those willing to expand. E.ON has successful channels of distribution. It provides not only gas but also electricity, therefore enlarging its customer base, and thus having an advantage over companies supplying only one of the services. Also, E.ON is horizontally and vertically integrated, thus it has a minimal risk comparing to its single-integrated competitors, as it enjoys economies of scale, such as labor....

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