competitive environment (porters)

Question 1

list of all of porters 5 forces

Answer 1

analyses competiivenes of market which has an effect on profit

entry threat
buyer power
supplier power
rivalry
substitute threat

Question 2

first force

Answer 2

entry threat ( barriers to entry)
- anything that stops firm from entering a market

Question 3

second force

Answer 3

buyer power
- customer has power when they have lots of choice ,
- higher buyer power forces businesses to lower price/improve quality = recuses profit

Question 4

third force

Answer 4

supplier power
- power when theres few of them/product = unique
-can charge high to business = raising costs

Question 5

fourth force

Answer 5

rivalry
fewer competitors = more attractive abusinss looks

Question 6

fifth force

Answer 6

substitute force
business within industry ,m faced with threat of similar product in another industry = less competitive = effect ability to charge high prices