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MIS Midterm. CIS 500 Midterm Heather Plum 10-29-2007 1) Explain Porter's 5
forces. Give Examples. The Five Forces Model helps determine ...
Submitted by brightonplum on November 5, 2007
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CIS 500 Midterm
Heather Plum
10-29-2007
1) Explain Porter's 5 forces. Give Examples.
The Five Forces Model helps determine the relative attractiveness of an industry and includes: Buyer Power, Supplier Power, and Threat of substitute products or services, Treat of new entrants, and Rivalry among existing competitors.
Buyer Power in the Five Forces Model is high when buyers have many choices of whom to buy from and low when their choices are few. To reduce buyer power an organization must make it more attractive for customer to buy from it instead of its competition. An example of way that a company can reduce the power of a buyer is through Loyalty Programs.
Supplier Power in the Five Forces Model is high when buyers have few choices of whom to buy from and low when their choices are many. Supplier power is the converse of buyer power: A supplier organization in a market will want buyer power to be low.
The Threat of Substitute Products or Services in the Five Forces Model is high when there are many alternatives to a product or service and low when there are few alternatives from which to choose.
The threat of new entrants in the Five Forces Model is high when it is easy for new competitors to enter a market and low when there are significant entry barriers to entering a market. An entry barrier is a product or service feature that customers have come to expect from organizations in a particular industry and must be offered by an entering organization to compete and survive.
Rivalry among existing competitors in the Five Forces Model is high when competition is fierce in a market and low when competition is more complacent. (Baltan & Philips 17-20)
Here is an example of a real world application of the Porter's Five Forces model and how it relates to the yellow page industry in Lexington.
Buyer Power-With 4 different yellow page books in Lexington the...
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