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5-1
©2008 Prentice Hall
Chapter 5
Entrepreneurship:Successfully LaunchingNew Ventures, 2/e
Bruce R. Barringer R. Duane Ireland
 
5-2
©2008 Prentice Hall
What is Industry Analysis?
•Industry
 – An industry is a group of firms producing a similar productor service, such as airlines, fitness drinks, furniture, or electronic games.
•Industry Analysis
 – Is business research that focuses on the potential of anindustry.
 
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©2008 Prentice Hall
Why is Industry Analysis Important?
•Why is this Topic Important?
 – Once it is determined that a new venture is feasible inregard to the industry and market in which it will compete,a more in-depth analysis is needed to learn the ins and outsof the industry the firm plans to enter. – This analysis helps a firm determine if the target markets itidentified during feasibility analysis are accessible andwhich ones represent the best point of entry for a new firm.
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