Tuesday, September 10, 2019

External Analysis of Shin Shin Training Center Assignment - 1

External Analysis of Shin Shin Training Center - Assignment Example This professional’s help the training institute in ensuring the required skills are laid out for the trainees. It also ensures that the proper staff is hired who are professionals in the services that they provide. There can be new markets that have better yields and may attract new firms. This creates a new platform for new entrants that decrease the profitability for all companies in the industry. There are factors that may affect new entrance that include barriers to entry like rights and patents. The Shin Shin firm has experienced new entries in the market that have their services for data analysis. The company should ensure that they identify the new ways other companies are using and introduce them in their company that will attract new customers. However, since the feedback of services at the center it has remained intact because its proper placed. Products that are outside the common product may increase the customer’s propensity in having alternatives. This creates potential factors of buyer switching costs, price performance, and buyer substitution. Other effects may be a depreciation of products and creating substandard products. Shin Shin company has a variety of courses, and the students can choose from, that are of quality. Their courses are not expensive which attract new customers due to price performance. This refers to the market of outputs where customers put the firm under pressure in terms of price changes. Companies can have the power to reduce buyer power using loyalty program. This means that when a buyer has many alternatives then their buyer power increases (Porter, 2008). The students who apply to the center for training usually compare prices with other firms. However, the Shin Shin Company has seen its loyalty programs remain intact since the value it gives students is high. Suppliers bargaining power is described as the market inputs where they can be a source of power in the firm when

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