Question

identify key success factors within mature industries and formulate strategies directed toward their exploitation.

Answer 1

Key success factors within mature industries along with their exploitation are:

1. Customer stronghold: Customer stronghold and established target market base is the key success factor within mature industries and the competitors in these industries have a loyal customer base who constantly get these companoes earn a lot of revenue and profits. These can be further exploited by offering excellent customer services and taking care of customer preferences at every instance.

2. Technological advancements: The mature industries have technological advancements and the players in these industries have latest and upgraded technologies which are used at all times. These can be further exploited by constant innovation and upgradation of technologies to suit the market requirements and serve the customers in a better manner.

3. Large scale operations: The mature industries have large scale operations and the companies in these industries have global presence and large business setup as well. This can be further exploited by looking at more opportunities to expand further and make strategies to enter global markets and exploit them even further and make a stronghold in these markets.

4. Economies of scale: These mature industries have achieved economies of scale and their cost of production is cheaper as compared to other industries which contributes to their revenue and profit levels. This can be further exploited by exploring the opportunities to reduce cost even further and optimum allocation and utilization of resources.