Question

The five forces of competitive pressures do not include a. the power and influence of social/demographic trends. b. the bargaining power of suppliers and seller-supplier collaboration. c. the threat of new entrants into the market. d. the attempts of companies in other industries to win customers over to their own substitute products. e. the market maneuvering and jockeying for buyer patronage that goes on among rival sellers in the industry.

Answer 1

The five forces of competitive pressures do not include the power and influence of social/demographic trends.

What are the Porter's five forces?

The Porters' 5 forces is used to analyse the competitiveness among firms in an industry.

Porter's 5 forces include :

Competition in the industry : the higher the number of companies in the industry, the lower the power an individual firm possesses. For example, if an industry increases it price, a consumer can easily shift to the consumption of substitute

Potential of new entrants into the industry : If there are low barriers to entry in an industry, firms in the industry experience greater competition  

Power of suppliers : the higher the number of suppliers in the industry, the higher the bargaining power of firms in the industry and the greater the power they posses

Power of customers : the larger the number of customers, the greater the power firms possess

Threat of substitute product : if there are little or no substitutes for the goods produced by companies, the greater the power the firms possess

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