Market Analysis
This episode presents the importance of incorporating market analysis at all stages of business management and entrepreneurship. We will discuss the aspects of the external environment that affect creative entrepreneurship. The analysis of the value chain is also presented as a tool to understand the different stages of an industry as a mechanism to understand challenges and opportunities that a creative venture will face. The generation of business ideas and the analysis of their viability are also discussed.
Objectives
- Understand the variables of the macro and microenvironment and their importance in the development and management of cultural and creative ventures
- Know how to perform an analysis of the external environment of the creative venture
- Understand the importance of the value chain analysis of the cultural and creative sectors
- Know tools for generating business ideas and analyzing their viability.
Assignment
- Value chain analysis: Identify the sub-segment of the creative industries where your enterprise is associated. For example, if the creative sector is music, then a sub-segment could be classical music. The same would be the case of documentary film within the general film sector or furniture design within industrial design. Analyze the value chain. Start by establishing the activities that make up that chain. Then, identify a list of companies for each activity and its level of impact.
- Based on the inventory findings, draw a mental map that exemplifies the composition of the ecosystem and the relationship between the agents.
- Perform a SWOT analysis (Strengths, Opportunities, Weaknesses and Threats) based on what you have observed.