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Porter's Five forces competitive position analysis explained with example by Rohit Singh | Oyerohit

5 Threats to analyze for before you start up - by Oyerohit<br><br>P.S.:<br>This is also known as 'Porter's 5 Forces Model'.<br><br>Analyzing a new product or service along these five forces helps #businesses to understand the factors affecting profitability in a specific industry, and can help make more informed decisions: whether to enter a specific market; whether to increase capacity in a specific #market and how to develop competitive strategies.<br><br>An example of understanding Porteru2019s five forces is the cell phone industry in India. Since the entry of multiple players such as Micromax, Oppo, Gionee, and others, competition for existing players such as Apple, Samsung, Nokia has increased tremendously.<br><br>This has led to an increase in the buyeru2019s power due to the plethora of choices available, resulting in decreasing cell phone prices.

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Porter's Five forces competitive position analysis explained with example by Rohit Singh | Oyerohit

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  1. ROHIT SINGH | @TEAMOYEROHIT | 2020 5 THREATS TO ANALYZE FOR BEFORE YOU START UP BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

  2. ROHIT SINGH | @TEAMOYEROHIT | 2020 #1 Threat of new entrants How easy is it for a new competitor to enter this market? Pro Tip: If its easy you'll face competition. It is better to have a high barrier to entry before you start. BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

  3. ROHIT SINGH | @TEAMOYEROHIT | 2020 #2 Rivalry among competitors How many competitors offer a similar product at a similar price? Pro Tip: The more rivals you have, less brand loyal will the consumers be. Make use of Perceptual maps to position right. BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

  4. ROHIT SINGH | @TEAMOYEROHIT | 2020 #3 Threat of substitute products What is the likelihood of a customer to switch to a similar product? Pro Tip: If it is more likely, check the relative price and quality of substitute. Try to win on all fronts. BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

  5. ROHIT SINGH | @TEAMOYEROHIT | 2020 #4 Power of buyers How easy is it for buyers to drive prices down? Pro Tip: Increased competition usually ends up concentrating power in the hands of buyers. Be unique, superior on price & quality. BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

  6. ROHIT SINGH | @TEAMOYEROHIT | 2020 #5 Power of suppliers How easy it is for suppliers to drive prices up? Pro Tip: Stats like no. of suppliers, uniqueness of suppliers, and your cost to substitute, should give you idea about bargain power of suppliers. BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

  7. ROHIT SINGH | @TEAMOYEROHIT | 2020 Looking for a professional advice with marketing for your brand? Book an on-call appointment with me at www.oyerohit.com BY WWW.OYEROHIT.COM GET EDUCATED AT OYEROHIT.COM/BLOGS

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