Industry and Sector Analysis

Question 1

The difference between an industry and market

Answer 1

1. industry - groups of firms producing the same products/ services
2. market - group of customers for specific products/ services that are the same.

Question 2

What is a complementor?

Answer 2

Organisations that enhance our business attractiveness to customers. ( app suppliers to smartphone producers)

Question 3

What is a supply complementor?

Answer 3

When an organisation is more attractive for supplier to deliver it when also supplying the other organisation.

Question 4

What is Value Net?

Answer 4

Map of organisations in a business environment demonstrating opportunities for value-creating cooperation
as well as competition.

Question 5

What is network effects?

Answer 5

An industry when one customer of a product or service
has a positive effect on the value of that product for other customers.