How to use porter 's five forces model
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How to use Porter’s five Forces
NOVEMBER 18, 2013
MARKETING MODELS (HTTP://WWW.SMARTINSIGHTS.COM/MARKETING-PLANNING/MARKETING-MODELS/)
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By Annmarie Hanlon
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What is Porter’s five Forces model?
This model helps marketers and business managers to look at the ‘balance of power’ in a market between different types of organisations, and to analyse the attractiveness and potential profitability of an industry sector.
It’s a strategic tool designed to give a global overview, rather than a detailed business analysis technique. It helps review the strengths of a market position, based on five key forces.
Porter’s Five Forces works best when looking at an entire market sector, rather than your own business
http://www.smartinsights.com/marketing-planning/marketing-models/porters-five-forces/
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How to use porter 's five forces model
Porter’s Five Forces works best when looking at an entire market sector, rather than your own business and a few competitors.
(http://www.smartinsights.com/wp-content/uploads/2013/11/Porter’s-Five-Forces-model.png)
How can I use Porters five Forces?
To apply Porter’s Five Forces, you need to work through these questions for each area:
Force 1: Threat of New Entry?
Force 2: Buyer Power?
Force 3: Threat of