Question

Discuss the factors affecting industry analysis

Answer 1

* An industry analysis consists of three major elements: the underlying forces at work in the industry; the overall attractiveness of the industry; and the critical factors that determine a company's success within theindustry.

* Purpose. Industry analysis is importantbecause it allows business owners to estimate how much profit they can generate from business operations. ... Business owners also assess the number of competitors currently selling consumer goods or services in their industry.


* A market assessment tool designed to provide a business with an idea of the complexity of a particular industry. Industry analysis involves reviewing the economic, political and market factors that influence the way the industrydevelops.

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