Competitive forces
Threat of substitute looks at whether customers can switch to a different product or service that satisfies the same needs. True or false
true
Who developed the five forces model?
Micheal Porter
Wendy’s $5 biggie bag VS Mc.Donald's $5 bag is an examaple of which force?
Rivalry among existing firms
What’s the three categories that competitors fall in?
Direct, indirect and future
This force looks at how easy or hard it is for new businesses to enter an indusury.
New entrants
After a firm understands its target market and industry what’s next?
Conduct a competitor analysis
Threat of substitutes is choose Netflix over Hulu. True or false
True
Who was the quiz team leader?
Donte
Name all 5 competitive forces
Threat of new entrants , threat of substitutes, bargaining power of buyers , bargaining power of suppliers , rivalry among existing competitors.
What is 5.1 objective ?
5.1 Explain the purpose of a industry analysis