Porter's Five Forces Model

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10 Questions

What is a key factor that leads to potential development of substitute products?

Decrease in consumers' switching costs

What can increase the bargaining power of suppliers?

Few substitutes

What is a barrier to entry that can be overcome by gaining economies of scale quickly?

Large capital requirements

What is a characteristic of a market where consumer power is higher?

Products are standard or undifferentiated

What is a type of integration that can increase the bargaining power of firms?

Backward integration

What can increase the pressure of substitute products?

Decrease in prices of substitutes

What is a barrier to entry that can be overcome by gaining technology and specialized know-how?

Lack of experience

What can reduce the intensity of competition?

Products being differentiated

What is a type of barrier to entry that can be created by government policies?

Tariffs

What is a characteristic of a market where the bargaining power of suppliers is higher?

Few substitutes

Assess the competitive forces that impact a firm's strategy and decision-making. Evaluate the strength of each element and decide whether to enter or stay in the industry.

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