Entrants are new competitors that enter the market who werent on the radar before Customers The people and businesses who buy your goods and services ID: 651552
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Slide1
Rivals: Those in direct competition with you.Entrants: are new competitors that enter the market who weren’t on the radar beforeCustomers: The people and businesses who buy your goods and servicesSuppliers: they provide you with the resources you need to do businessSubstitutes: Performs the same or a similar function as an industry’s product via another means (e.g., use of trains & buses instead of flying)
Porter’s Five Forces of AnalysisSlide2
Porter’s Five Forces of AnalysisSlide3
SUMMARYAs the final wrap-up of this exercise, you and your partner are to write a one-to-two page summary (together) about your product or service’s competitive positioning in the market. Is the product, service, or company you investigated strong or vulnerable? Why?What important discoveries did you make as a result of using Porter’s strategy in the investigation of your product, service, or company?What additional information would you have liked for this analysis?What’s the most interesting thing you have learned from studying/using Porter’s five forces of analysis?