Client presentation on globalization: part 1 | ECON 1002 – Microeconomics | Walden University
To select an appropriate industry for Fourevr Enterprises, it is important to examine characteristics of market structure such as competition levels, pricing strategies, product differentiation and barriers to entry. For example, if the company is looking to enter a highly competitive market then they need to be prepared with a strong value proposition that sets them apart from their competitors. Alternatively, if the market has few players and high barriers to entry then this could provide considerable opportunities for growth without having to face too much competition.
In addition it is also important understand pricing dynamics in order get a better idea of how pricing affects demand; if prices are too low then profits may suffer however if they are set at the right level then this can help maximize returns over time. Furthermore differentiating products through features or services offered can also be beneficial in order to distinguish oneself from others in the market and attract more customers. Ultimately by taking all these factors into consideration when selecting an industry for Fourevr Enterprises, they will have greater chances of success going forward by setting up operations within an environment which optimizes their potential gains while minimizing potential losses.