Briefly describe what is meant by the industrial market structure (IMS). Why is an understanding of the IMS so important for companies in their strategic management process

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07-01-2021
Business

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Briefly describe what is meant by the industrial market structure (IMS). Why is an understanding of the IMS so important for companies in their strategic management process

Sagot :

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DeniceSandidge DeniceSandidge · Answer 1 · 2021-01-10T20:43:33-05:00

Answer is given below:

Explanation:

Industrial market structure is a systematic representation of different organization based on the level of competition for these products or services
the nature and nature of these products or services in the market.
Industry market is structured is important in a company's strategic management process for the following reasons

Clearly assess business objectives
Knowing how much competition there is in the market.
Get details of your competitor's business development.
Competing in the market

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