In identifying an industry's key success factors, strategists should
A)try to single out all factors that play a major role in shaping whether buyer demand grows rapidly or slowly.
B)consider on what basis customers choose between competing brands, what resources and competitive capabilities firms need to be competitively successful, and what shortcomings are almost certain to put a company at a significant competitive disadvantage.
C)consider whether the number of strategic groups is increasing or decreasing and whether the five competitive forces are powerful or relatively weak.
D)consider what it will take to overtake the company with the industry's overall best strategy.
E)focus their attention on what it will take to capitalize on the impacts of the industry's driving forces.

Question

Quizplus · Accepted Answer

Option B correctly identifies the key factors to consider in identifying an industry's key success factors. These include factors such as customer preferences and competitive capabilities that are crucial to being successful in the industry. Option A, C, D, and E are either too narrow or too broad in scope and do not capture the full range of factors to consider in this analysis.

In Identifying an Industry's Key Success Factors, Strategists Should