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Porter's Five Forces Analysis - Problem Solving Techniques from Mind Tools
The Porter's Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position you're considering moving into. With a clear understanding of where power lies, you can take fair advantage of a situation of strength, improve a situation of weakness, and avoid taking wrong steps. This makes it an important part of your planning toolkit. Conventionally, the tool is used to identify whether new products, services or businesses have the potential to be profitable. However it can be very illuminating when used to understand the balance of power in other situations.
Intercepted 800 shoppers in four stores of a supermarket chain immediately after they had selected one of four target products (margarine, coffee, toothpaste, cold cereal). Observations and interviews were used to assess the time spent at the POP, the number of brands/sizes physically inspected, accuracy of price recall and recall of price specials, comparison shopping, and reasons for price checking. Findings Little search is undertaken at the POP.
86-102: Point-of-Purchase Behavior and Price Perceptions of Supermarket Shoppers
70% of purchasing decisions are made in-store- Brand Equity-Features-The Economic Times
Nicola Clark, Dec 10, 2008, 04.08am IST Any marketer worth their salt will have heard numerous times that 70% of purchasing decisions are made in-store — it is a well-worn marketing truism. Many, however, either don't believe it, but do absolutely nothing about it.
