Foundations of Global Business Essay Example | Topics and Well Written Essays - 2000 words - 1

Foundations of Global Business - Essay ExampleAs an entrepreneur, this creates the need to come up with a different product that dis sack up ease these discomforts from them while achieving their objective of being smart.Shaving is a routine for all men in the world, its in that locationfore important to ensure that there are no discomforts after the exercise. Therefore the purpose essay of this essay will be coming with friendly shaving equipments that can solve the problem of discomfort and hence attract a large market share. This will need to carry out an industry analysis using the porters beer five forces model so that to assess the viability of the sore product in the industry and as well describe the best methods of marketing the products using the 4Ps of marketing.This is a model of conducting the industry analysis the model uses five forces that affect the industry that is being assessed. These forces are the bargaining power of suppliers, the bargaining power of buyers, the threats of new entrants, the threat of substitutes and the intensity of rivalry within the industry (Botten, p120).A competition among the rival firms reduces the firms profit. This is because if the firm is not strong enough, it is likely to lose its market share. more or less industries strive to achieve a greater competitive advantage over its rival firms. Rivalry among different industries varies according to the interests and goals of each specific industry. In an flak of gaining competitive advantage in the mens grooming market, several competitive actions need to be considered, these areThe industry can be entered with vary prices of the shaving equipment.This can be achieved by lowering the prices so as to gain temporary advantage and hence help to create a let out public image that can attract customer loyalty.The features of the shaving equipments can be improved so that they can be easier to use and to dispose, this presage for coming up and