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Write 7 page essay on the topic Market Analysis for BzzAgent.Download file to see previous pages... The following discussion aims to discuss the market situation in which BzzAgent operates using some
Write 7 page essay on the topic Market Analysis for BzzAgent.
Download file to see previous pages...The following discussion aims to discuss the market situation in which BzzAgent operates using some widely established models and theories of organizational studies. BzzAgent operates in a crowded marketplace and had to adopt some innovative strategies to enter and succeed in the industry. The attractiveness of the marketplace in terms of competitiveness is analyzed below using the Five Competitive Force model presented by Michael Porter in 1980. The tools of the analysis presented in the model provide a structure that can be used to conclude the competitive strength of an industry. These tools are simple but allow having the clear and strong understanding of the importance of power within a business circumstance and help in gaining the understanding about the strength of any organization within a competitive situation. The threat of entry depends upon the extent to which there are barriers to entry in the market. The environment where BzzAgent operates is an easy to access marketplace. There are little barriers to entry in the field of WOM marketing and the agencies generally have the wide range of options to start their operations depending upon their financial base and workforce. The failure of the traditional means of marketing has already opened up the doors for innovative marketing ideas. Moreover, the rapidly increasing trend of online, telephonic and text messages’ interactions have broadened the prospects for new ways of WOM marketing. The companies operating in different industries and sectors fervently look towards the different and unique ideas to promote their brands and the WOM strategy seems attractive to many of them due to the growing importance of the internet, email and SMS as a marketing tool. It implies that there are the greater scope and little entry barriers in the field of WOM marketing.
