Briefly explain Porter’s five-factor model of industry structure analysis.
What will be an ideal response?
Basically the model concerns the key structural features of industries that determine the strength of the competitive forces and hence industry profitability. These forces that the competition within the industry include are threat of potential entrants into the industry, bargaining power of suppliers, bargaining power of customers, threat of substitute products or services, and the degree of rivalry within the industry.
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What will be an ideal response?