23 Apr Read the article: How Porter’s Five Forces Can Help Small Businesses Analyze the Competition at the link
Read the article: How Porter's Five Forces Can Help Small Businesses Analyze the Competition at the link below.
Use the company Vans "Off The Wall" and complete the following analysis:
Force #1: Competition in the industry
Research question: What information would you gather to learn more about your company’s competitors?
Examples: List of competitors, competitors’ financials, market share, product differences, brand identity, industry growth, etc.
Force #2: Threat of new entry
Research question: What threats do new companies face in entering your industry?
Examples: Economies of scale, strong brand identities, capital requirements, government policy, high switching costs, etc.
Force #3: Threat of substitutes
Research question: What product or service may substitute your company's current product or service?
Examples: Uber as a substitute to traditional taxi services.
Force #4: Power of suppliers
Research question: How do you determine the power of a supplier?
Examples: Supplier concentration, lack of supplier competition, switching costs, uniqueness of process and/or material, etc.
Force #5: Power of buyers
Research question: How do you determine the power of buyers?
Examples: Buyer concentration, buyer switching costs, brand loyalty, availability of substitutes, etc.
Follow the APA format and include a cover page and a reference page. Use two sources beyond the textbook (David, F.R. & F. David (2016). Strategic Management: Concepts (16th ed.). NJ: Prentice Hall, ISBN-13: 978-0-13-4-15397-1) and the article to support your information. Make sure to write in your own words and do not copy and past from various websites.
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