It is advisable for any entrepreneur, that before you venture into a business, you should test the waters first. The key to this advice is blue ocean thinking. You don’t want to fight large corporations when you are executing a business idea. Instead you want to find something that is very innovative and profitable and serves a customer problem that others have not thought of yet. And here’s where the Porter’s Five Forces Model and Analysis comes into play. The Porter’s Five Forces Model is basically a market research tool. It is an analytical took wherein you consider five forces to find whether the market that you are about to enter into, is profitable and non-competitive or not. The Five Forces of the Porter’s Five Forces Analysis The five forces that you must watch out for, are – The rivals in the industry, The threat of entry of new players in the market, The bargaining power of suppliers, The bargaining power of buyers, and The threat of substitutes. In this a
Article by Kshitij Kumar . Check out his LinkedIn to learn more about him. Editor’s Note: So your startup is on its way to create the next path breaking innovation . And, you need to tell everyone about it. So, what’s better than buying emails, right!? I was working with a startup in the US who just had this bright idea! Although saner minds prevailed, that got me the thinking – most marketers may not know of the regulations governing marketing, in the US. And, that’s nothing to be surprised about. While states are free to enact their own laws, the digital sphere has no boundaries – and that might affect well-meaning marketers from their digital marketing efforts. And, that’s why – if you need to know the most important piece of legislation governing digital marketing , it is this. And, in this article, Kshitij will decode all there is to know about the CAN-SPAM Act, 2003.