Reference no: EM131140264
According to Michael Porter (1980), there are five forces that drive industry competition: direct competitors or rivals; barriers to entry; substitute products or services; customer power; and supplier power. These forces will determine whether or not your small business will be profitable and sustainable. In the Discussion Board "Unit 2: Market Analysis", discuss the following forces of competition, which relate to your particular business or industry.
Competitors - Identify a small business that sells the same product or service as your company. Explain why you consider the company is your competitor or rival. Define a strategy on how you think you can remain competitive or eliminate the company's competition.
Barriers to entry - Are there certain factors, which might keep potential small businesses out of your industry. Discuss ways to keep new competitors from entering your industry.
Substitute products/services - Is there another product or service, which functions the same as your product or service or could be used as a substitute? If the value of your product or services begins to decline, your business could become less profitable. Discuss ways your company can do to preserve and uphold the value of your company' s product or service.
Customer power - What is the customer demand for your company's product or service? Are there options for customers to obtain your company's product or services elsewhere for a better price or selection? Define ways your company can influence its customers buying decisions.
Supplier power - Does your company have to rely on one particular supplier to produce its product/service or does it buy it materials from several suppliers? A single supplier could increase its prices or limit supply and thus affect your company's profitability. Identify ways in which you can reduce the power of your suppliers.
|
Determine and plot the drawdown curve for the well
: The coefficient of permeability is 0.31 m/day and the radius of influence of the well at that discharge is l000 m Determine and plot the drawdown curve for the well.
|
|
What powers are extended to the federal government
: What powers are extended to the federal government? What components of the US Constitution describe and detail the powers extended to the federal government? What powers are extended to the state governments
|
|
What classifications and amounts are shown in pepsicos
: What classifications and amounts are shown in PepsiCo’s Note 4 to explain its total property, plant, and equipment (net) of $11,228 million?
|
|
How does robert hayden recover what had been lost
: How does Robert Hayden recover what had been lost of the African-American experience in his poetry? Give examples from each of Hayden's poems assigned. Be sure to quote, cite, and reference from the text(s) using appropriate APA format. Your post ..
|
|
Five forces that drive industry competition-market analysis
: According to Michael Porter (1980), there are five forces that drive industry competition: direct competitors or rivals; barriers to entry; substitute products or services; customer power; and supplier power. These forces will determine whether or no..
|
|
Determine coefficients of permeability and transmissibility
: Determine the coefficients of permeability (1/day/m2) and transmissibility (1/day/m) of the aquifer. What is the drawdown in the pumped well?
|
|
What do you feel is significance of robert lack of vision
: Look at Alice Walker's "Everyday Use" and explain how the quilts in the story symbolize the family's heritage. How do Dee and Maggie view the significance of the family's heritage, and how is that represented by the quilts in the story?
|
|
Discuss the implications this has for comparing the results
: You are comparing two companies in the same industry. You have determined that May Corp. depreciates its plant assets over a 40-year life, whereas Won Corp. depreciates its plant assets over a 20-year life.
|
|
Maximize toll gate revenue per traffic cycle
: Traffic Light Control (Stark and Nicholes, 1972) Automobile traffic from three highways, H1, H2, and H3, must stop and wait for a green light before exiting to a toll road. The tolls are $3,$4,and $5 for cars exiting from H1, H2, and H3, respectively..
|