The Internet Industry Similar to the invention of the airplane, the emergence of automobiles has had a profound effect on our everyday lives. The auto manufacturing industry is considered to be highly capital and labor intensive.
Answer Five Forces Analysis Five Forces Analysis helps the corporate strategist to analyse and evaluate a competitive environment. For example, he reasons that digital technologies are a dynamic drivers of the competitive environment, and so Five Forces can be used to evaluate new and innovative digital industries.
Five forces analysis looks at five key areas namely the threat of entry, the power of buyers, the power of suppliers, the threat of substitutes, and competitive rivalry. The threat of entry. Economies of scale e. The high or low cost of entry e.
Ease of access to distribution channels e. Do our competitors have the distribution channels sewn up? Cost advantages not related to the size of the company e. The bargaining power of buyers Government action e. How important is differentiation?
The Champagne brand cannot be copied. This desensitises the influence of the environment. This is high where there a few, large players in a market e. If there are a large number of undifferentiated, small suppliers e.
The cost of switching between suppliers is low e. The power of suppliers. The power of suppliers tends to be a reversal of the power of buyers. Where the switching costs are high e. Switching from one software supplier to another.
Power is high where the brand is powerful e.
Cadillac, Pizza Hut, Microsoft. There is a possibility of the supplier integrating forward e. Customers are fragmented not in clusters so that they have little bargaining power e.
The threat of substitutes Where there is product-for-product substitution e. Where there is generic substitution competing for the currency in your pocket e. Video suppliers compete with travel companies. We could always do without e.
Competitive Rivalry This is most likely to be high where entry is likely; there is the threat of substitute products, and suppliers and buyers in the market attempt to control.
This is why it is always seen in the centre of the diagram. Based upon Competitive Strategy: Techniques for analyzing industries and competitors, Porter M. Published by Tim Friesner Marketing Teacher designs and delivers online marketing courses, training and resources for marketing learners, teachers and professionals.
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