Porter Five Forces

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Introduction The Porter's Five Forces has been one of the most instrumental structures for strategic digital marketing and in business. In business whether you conduct it online or onsite you must have the ability to make good profit. The Porter's Five Forces can determine if a company has any competitors offering the same product, or whether it is easy for competitors to enter in their market if they see the company is making a profit, it can even identify customers that pressures them to lower their prices in regards to their products or services they offer. Here is another important impact it has on the internet, it can identify who has the most power on the internet and assist to see if a company’s products or services are profitable. The Porter's Five Forces helps a company identify both the strength of their present and influential competitive stance, and the intense strength of a position they are contemplating moving into. When a company has an astute understanding where their power is situated in the market, they can take advantage of their position of strength, make remarkable improvements in their situation of weakness, and avoid making catastrophic mistakes. Generally, the Porter's Five Forces is used to recognize new services and products, and to they have the capacity to be profitable. The Five Elements of Porter's Five Forces The Five forces can determine a competitive power. Supplier of Power or the Power of the Suppliers, with this element a company can assess how uncomplicated it is for suppliers to increase prices. This is motivated by the quantity of suppliers of each main input, from the uniqueness of a company’s product or service; identify the cost of switching from one supplier to another, energy suppliers are a perfect example. An example of Supplier of Power and how it has impacted the internet is the telecom bandwidth
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