This document provides an overview of market entry theory and strategies for entering the natural gas market in NSW, Australia. It discusses possible advantages incumbents may have; a case study of the telecommunications industry; growth projections for the gas market; how many competitors the market can support based on other industries; using conjoint analysis to predict market shares; considerations around pricing; and customer price sensitivity segments. The key topics covered are barriers to entry, market saturation points, market share prediction techniques, and pricing strategies.
Telecommunications Consumers: A Behavioral Economic AnalysisEmre Sarı
A brief review of the article, which is published by Peter D. Lunn. Telecommunications Consumers: A Behavioral Economic Analysis is "a commentary on consumer behavior in modern telecommunications markets, based on advances in behavioral economics. The core argument is that the combination of FBB, PSTN, Mobile and TV properties, which is unique to telecommunications, is likely to foment decision-making biases established by behavioral economics. This central insight is used to address two issues of concern from a pro-consumer perspective: low levels of switching between providers and failure to select optimum tariffs."
Telecommunications Consumers: A Behavioral Economic AnalysisEmre Sarı
A brief review of the article, which is published by Peter D. Lunn. Telecommunications Consumers: A Behavioral Economic Analysis is "a commentary on consumer behavior in modern telecommunications markets, based on advances in behavioral economics. The core argument is that the combination of FBB, PSTN, Mobile and TV properties, which is unique to telecommunications, is likely to foment decision-making biases established by behavioral economics. This central insight is used to address two issues of concern from a pro-consumer perspective: low levels of switching between providers and failure to select optimum tariffs."
This presentation by Helen JENKINS, Managing Partner of OXERA was made during the discussion on “Market study methodologies for competition authorities” held at the 125th meeting of the OECD Working Party No. 3 on Co-operation and Enforcement on 20 June 2017. More papers and presentations on the topic can be found out at oe.cd/1ZX.
Presentation by Rachel Holloway, Department for Business, Energy, & Industrial Strategy, United Kingdom, at the RIA workshop which took place in Lima on 22-24 May 2017. Further information is available at www.oecd.org/gov/regulatory-policy/.
This presentation by Helen JENKINS, Managing Partner of OXERA was made during the discussion on “Market study methodologies for competition authorities” held at the 125th meeting of the OECD Working Party No. 3 on Co-operation and Enforcement on 20 June 2017. More papers and presentations on the topic can be found out at oe.cd/1ZX.
Presentation by Rachel Holloway, Department for Business, Energy, & Industrial Strategy, United Kingdom, at the RIA workshop which took place in Lima on 22-24 May 2017. Further information is available at www.oecd.org/gov/regulatory-policy/.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
The key differences between the MDR and IVDR in the EUAllensmith572606
In the European Union (EU), two significant regulations have been introduced to enhance the safety and effectiveness of medical devices – the In Vitro Diagnostic Regulation (IVDR) and the Medical Device Regulation (MDR).
https://mavenprofserv.com/comparison-and-highlighting-of-the-key-differences-between-the-mdr-and-ivdr-in-the-eu/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
1. Market Entry Theory and Practice
Presentation to
NSW Natural Gas: Full Retail Contestability
Charlie Nelson
foreseechange pty ltd
www.foreseechange.com
2. 2
Topics
• Possible incumbent advantages
• Telecommunications case study
• Gas market growth
• How many competitors can the industry support?
• Predicting market shares
• More on price
• Benefit segmentation
• Brand differentiation
• Other marketing strategies
• Conclusions
3. 3
Possible Incumbent Advantages
• Technological leadership
– Experience curve effects or R&D success
– Less relevant when entrants come from overseas
• Pre-emption of scarce assets
– Raw materials, distribution
– Compass complained that they were not given adequate
airport terminal access
• Switching costs and buyer choice under
uncertainty
– Late entrants have to invest more to overcome costs
buyers see when switching or to overcome product
performance uncertainty amongst risk averse buyers
5. 5
Stages in Contestability
Telecommunications Case Study
Disguised Data
100
90
80
70
60
50
40
30
20
10
0
Monopoly Duopoly Open Competition
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Time
% Market Share
Incumbent First New Entrant Second Third
6. 6
Issues Suggested by Case Study
• Duopoly
– What market share will be gained by the new entrant?
– What factors influence this?
– What period of time will it take to gain that share?
• Full contestability
– What shares will new entrants achieve?
– Will the original incumbent or the second entrant be
hurt most?
– How many competitors can the market support?
7. 7
Telecommunications Duopoly
• Telstra had a large segment of dissatisfied
customers who welcomed the opportunity to
switch
• Optus had a cost advantage and could charge up to
10% less
– Telstra attempted to blunt this with pricing plans
– Which is cheaper? It depends!
• Inertia was high – companies and households
wanted time to evaluate the new entrant
• Optus brought on pre-selection too early (asked
customers to make a commitment) and inertia
counted against them
8. 8
Open Competition in
Telecommunications
• 15 competitors initially, now down to 5
– Suggestions that One.Tel were selling services at a loss
plus they strayed from their core area of expertise
– Further consolidation likely
• Optus up for sale
• Telstra’s share price plunged on news that revenue
and profit forecasts were too optimistic
– Hit by competitive pressures plus a market slowdown
influenced by the economy
10. 10
Gas Market Growth
• In telecommunications, Telstra’s share price has
plunged as a result of a downgrade in revenue and
profit forecast
– Attributed to the economic slowdown and competitive
pressure
– One.Tel has collapsed
• A quickly growing market will tend to offset loss
of share to competitors and may lessen the
prospects of a price war
• So, what are the growth prospects for the gas
market?
11. 11
ABARE’s 1999 Forecast
Average Annual Growth Rate 2000 to 2015
• Australia
– Natural gas 4.0%
– Electricity 1.5%
• NSW
– Natural gas 3.3%
– Electricity 1.3%
• These are averages and economic growth volatility
suggests that growth will be lower in some years,
possibly close to zero
12. 12
Growth Opportunities and Threats
• Opportunities
– ABARE’s residential forecast is based on consumption per person,
but households are growing much faster than people
– More switching from electricity to gas than ABARE allowed for,
due to lower carbon emissions (especially in Victoria)
– Switching from electricity to gas to secure better quality, more
reliable electricity (microturbines, fuel cells)
• Threats
– Switching from gas to solar hot water
– Global warming (less space heating)
14. 14
No Growth in Traditional Families
2000
1800
1600
1400
1200
1000
800
600
400
200
0
'000
1988 1991 1994 1997
couple only
couple + kids
single parent
15. 15
Highlights of ABS Household
Projections
• Between 1996 and 2021, the population will
grow by 24% but the number of households
will grow by between 38% and 46%
• Average household size to decline from 2.6
to between 2.2 and 2.3
• Couple families without children to exceed
couple families with children by 2020
17. 17
Some Generalizations
• Based on Kalyanaram, Robinson, and Urban (1995) “Order of market
entry: established empirical generalizations, emerging empirical
generalization, and future research” Marketing Science Vol 14, No. 3,
Part 2.
• For mature consumer and industrial goods, there is a
negative relationship between market entry and market
share
• In mature consumer and industrial goods markets, early
entrant market share advantages slowly decline over time
18. 18
Other Industries in Australia
• Telecommunications
– Full deregulation in 1997 led to 15 competitors but consolidation and exits
will probably leave 3
– The 5th, One.Tel, just went under
– The 2nd, Optus, is up for sale
• Passenger Airlines
– Several collapses (Compass twice, Impulse)
– Two competitors on most routes, Virgin makes three on larger
routes
• Banking
– The “four pillars” policy is artificially keeping four big
competitors
– Without that policy, there would be two big competitors plus niche
competitors
19. 19
Likely Outcome in Energy
• 2 or perhaps 3 viable full service
competitors
• Plus possibly some niche competitors
• It is interesting to note the potential trend
back to government ownership in
Telecommunications and airlines – but it is
the Singapore government buying, not the
Australian government
20. Predicting Market Shares
The Influence of Brand and Other
Attributes
An example of conjoint analysis
21. 21
Breakfast Cereal Case Study
• This is a simplified example and real world studies
are not in the public domain
• 90 marketing students at Sydney University
participated in a conjoint analysis study as an
educational exercise that I conducted
• In discussions, we identified the important
attributes
• Then we developed an experimental plan to vary
the attributes by brand
• And developed a market simulation tool
22. 22
Breakfast Cereal Attributes
• Brand
– Kellogg, Uncle Tobys, Sanitarium, No Frills
• Price
– -30%, -10%, +10%, +30%
• Sugar content
– Low, high
• Fibre content
– Low, high
• Fat content
– Low, high
• Toys in pack (suggested by the boys)
– Yes, no
23. 23
Experimental Design
(cards were ranked by respondents)
Card Brand Sugar Fibre Fat Toys Price
1 Kellogg High High High No -10%
2 Uncle
Tobys
Low Low High No +10%
3 Sanitariu
m
low High High No -30%
4 No Frills high low high no +30%
5 Kellogg low high high yes +10%
15 Sanitariu
m
high low low yes +10%
16 No Frills low high low yes -10%
25. 25
Scenario 1 (all brands equal)
No Frills Uncle Tobys Kellogg Sanitarium
Sugar High High High High
Fibre Low Low Low Low
Fat High High High High
Toys No No No No
Price 0% 0% 0% 0%
Preference
4% 25% 62% 9%
Share
26. 26
Scenario 2 (realistic prices)
No Frills Uncle Tobys Kellogg Sanitarium
Sugar High High High High
Fibre Low Low Low Low
Fat High High High High
Toys No No No No
Price -15% -5% +5% -5%
Preference
8% 35% 49% 8%
Share
27. 27
Scenario 3 (Sanitarium Low Sugar)
No Frills Uncle Tobys Kellogg Sanitarium
Sugar High High High Low
Fibre Low Low Low Low
Fat High High High High
Toys No No No No
Price -15% -5% +5% -5%
Preference
3% 24% 44% 29%
Share
28. 28
Cereal Case Study Conclusions
• Despite the artificial simplicity and the non-random
sample, the market share predictions are
remarkably accurate
• The relative importance of brand, price, and other
attributes have been quantified
• Conjoint analysis and choice modelling (a similar
technique that focuses more on discrete choice
rather than preference) have been applied with
success in new product or new market entrant
studies in industries such as telecommunications,
airlines and finance
30. 30
Pricing Considerations
• Price is the only marketing variable that directly
determines revenue and, because it affects
quantity sold, affects cost as well
• In a competitive environment, it is important to
keep prices at levels that ensure industry
profitability
• Prices influence market growth as well as market
shares
• Price is seen by some consumers as a quality
signal
31. 31
Price Discrimination
• Price discrimination occurs whenever there are price differences
for the same product or service sold by a single seller that are not
justified by cost differences
• If different consumers have different price sensitivity then price
discrimination can boost profits
– Difficult to identify price sensitivity of individual customers
• Price discrimination exists despite identification and legal
problems
– Student and pensioner discounts
– Airfare discounts – differentiation on the “restrictions” attribute
• Opportunities in energy
– “green energy”
– Peak/off peak
– Quality differentiation
32. 32
Retail Price Sensitivity
• Several independent research studies confirm that
about
– 20% of consumers are very price sensitive
– 30% trade off price and other attributes such as
convenience and quality
– 50% are more concerned about convenience, quality,
service, or other factors and price is of relatively low
importance
• This may vary by industry
– eg higher in air travel because there is a high market
size elasticity as well as market share elasticity
• It certainly varies over time and by demographics
33. 33
Retail Price Sensitivity Variation
Low
Medium
High
Price Sensitivity Segments
Source: foreseechange
100
80
60
%
40
20
0
Sep 97
Mar 98
Sep 98
Dec 97
Jun 98
Dec 98
Quarter Mar 99
Jun 99
Sep 99
Dec 99
Mar 00
Jun 00
Sep 00
Dec 00
Price
Sensitivity
34. 34
Determining Market Share Price
Elasticity
• Analysis of time series data if available
• Analogy from other countries or industries
• Simulated choice modelling
– Where it has been possible to compare with
time series analysis, elasticity estimates are
quite similar
35. 35
Benefit Segmentation
• Consumers differ on the relative importance
attached to attributes such as price, quality, and
customer service
• With knowledge of benefit segmentation, it is
possible to differentiate the product so as to
maximise profit (not necessarily market share)
• Benefit segments can be identified in market
research through conjoint analysis or cluster
analysis of an attitudinal battery
36. 36
Brand Differentiation
• Brands are still very important to
consumers, although less important than 25
years ago
• Brand differentiation is important,
especially in defending market share
• Australian ownership and environmental
credentials are two potentially powerful
differentiators
37. 37
Brand Choice in Supermarket
Most Important Reason for Brand Choice
Source: ACNielsen
0 5 10 15 20 25 30 35
Quality
Brand usually buy
Price
Where made
Environmentally Friendly
Other
%
97
99
38. 38
Brand Choice in Supermarket
Factors Important - Multiples Allowed
Source: ACNielsen 1999
0% 10% 20% 30% 40% 50% 60%
Brand usually buy
Recently advertised
Packaging
Where brand made
Quality
Price
Environmentally friendly
Other reason
%
Dick Smiths
segment
Green
segment
40. 40
Bundling
• Bundling involves selling products in packages – eg a travel
package includes transport, accommodation, meals,
entertainment, etc
• If properly developed and implemented, a price bundling strategy
can enhance customer’s perceptions of value, provide competitive
advantage, lead to cost economies, and effect a profitable pricing
strategy
– In insurance, some people want to buy a portfolio of insurance
products from one company, others want the best deal on each
type of insurance
• If improperly done, it can lead to lost sales, reduced profits, and
lower customer satisfaction
– Bundling home loans at a discount with energy offends the
majority of households who do not have a home loan and don’t
qualify for the discount
• The key is to understand customer segmentation
41. 41
Loyalty Schemes
• Sometimes called “disloyalty” schemes because most
consumers belong to more than one and choose between
them for each transaction
• A good example of the power of loyalty schemes is Coles
and Woolworths
– Coles has fly buys and share holder discounts, Woolworths have
neither
– Yet Woolworths market share and share price is higher than Coles
• Moral: get customer service right
– If you don’t, a loyalty scheme won’t help
– If you do, you don’t need a loyalty scheme
• Few, if any, loyalty schemes are being effectively used for
1 to 1 marketing
42. 42
Conclusions
• The market can probably only support 2 or 3 full service
competitors
• Incumbents can have several advantages over later entrants
• Pay attention to growing the market as well as market
share
• Price sensitive customers are easily won and easily lost
• Need to be able to withstand a price war at some stage –
possibly during a market slowdown
• Understanding market dynamics and segmentation is vital
to development of a profitable portfolio and, ultimately,
survival
43. 43
For more information ...
• Market Defence and Entry
– Defending market share against a new entrant by Roberts, Nelson, and
Morrison, in New Directions in Corporate Strategy by Twite and
O’Keefe, AGSM
• Market Modelling
– Marketing Models by Lilien, Kotler, amd Moorthy, Prentice-Hall
• Pricing
– Pricing: Making Profitable Decisions by Kent B. Monroe, McGraw-Hill
• Conjoint Analysis and Choice Modelling
– www.futuretoolkit.com/conjoint.htm