Can unseat the competition. Either by reducing prices, offering added value to our products or increasing their production. For example, we find it in drinks. The first case that comes to mind is precisely between coca cola and pepsi. Examples of porter’s 5 forces applied to a company Finally, we are going to see an example of how porter’s 5 forces are applied directly in companies. For one, we have starbucks . The coffee chain analyzed the key characteristics of the competition in its industry.
It faces stiff competition given
The large Nigeria phone number number of companies in the market around the world, the moderate variety of products, and the high probability that customers will switch businesses. In this sense, starbucks has a smaller number of buyers and high prices, along with substitute products. This increases the chances that customers will switch. Using porter’s forces, the chain also looked at the bargaining power of suppliers, so they buy from different sources to avoid monopoly. On the other hand, we also have the example of uber . Transport platform customers have high bargaining power, lower transaction costs and shorter waiting times. At the same time, the competition is very high, since there are several companies in the market and the client has a lot of information at their fingertips.
A customer is more likely to book a
Different taxi if demand and prices increase. What did you think of this article about porter’s 5 forces ? Comment and share! Implementing a good marketing strategy is vital for your company to position itself among the first in the sector. Therefore, if you want to become a professional to develop the best marketing strategies, sign up for the master in digital marketing and specialize in the field. Master in digital marketing Learn to carry out a good marketing strategy I want to train! 3591 15 comments Elena bello Journalist specialized in corporate communication. Department of marketing and communication of iebs business school. Read more Post navigation Stop competing and differentiate yourself: the search for the blue ocean Creation of companies Stop competing and differentiate yourself: the search for the blue ocean You have probably heard of the blue ocean strategy. Many companies spend most of their time and resources on… What is contextual marketing,