Imagine you’ve been asked to write a Phillips case study and include porter’s five forces to analyze the case study. Now, if you’re not familiar with the porter’s five forces analysis, you’ll probably look for Phillips case study help service. But before you do that, you still need to gain a solid idea about the porter’s five forces analysis.
Porter’s five forces is a form of analysis that adopts five industry forces to identify the intensity of competition in any industry and its level of profitability. This is a model that many eminent experts use in the case study assignment writing process. Read on.
- The possibility of new entrants
This factor of the porter’s five forces determines how easy (or not) it is to enter a specific industry. If any industry is profitable and there are little or no barriers to entry, the competition soon gets stiff among the businesses. Even the experts on the Phillips case study help service emphasize this factor.
It’s crucial for existing businesses to set the barriers high, so the new entrants find it tough to get through.
- Competition within the industry
This factor determines the number of competitors and their ability to undercut an organization. The power of an individual organization within an industry depends on the number of competitors, along with the number of similar products and services they offer.
Buyers and suppliers find out about a company's competition if they are able to offer a better deal or lower prices.
- The power of suppliers
This is identified by how convenient it is for your suppliers to hike their prices. You need to consider how many potential suppliers you have or how expensive it would be to switch from one supplier to another.
The more you have to select from, the simpler it will be to switch to a more reasonable alternative.
- The challenge of substitution
This refers to the possibility of your consumers noticing a different way of doing what you do. For instance, if you supply a unique software product that automates a specific process, consumers may substitute it by conducting the process manually or by outsourcing it.
A substitution that’s easy and reasonable to adopt can weaken the position of your brand and threaten your profitability.
- The power of buyers
Buyers have the ultimate power to ask for higher product quality or lower prices from industry producers when their bargaining power is strong.
Lower price indicates lower revenues for the producer, while higher quality products usually hike the production costs.
Knowing this model of analysis will simplify the writing process further.
Ref: https://glibblog.com/blogs/7826/32541/a-peek-into-porter-s-five-forces-model-for-effective-case-studi
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