Business Strategy:the Porters five-forces model - Research Paper Example

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This paper focuses on describing Porter’s five-forces model, and how it shapes the Snack Food Industry. In addition, the paper describes the most significant driving forces to Snack Food Companies. It is critical for a business to identify the competitive forces that shape the industry…
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Business Strategy:the Porters five-forces model
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Download file to see previous pages Existing businesses face a salient threat of new entries into the market. This is because new entrants compete for a position in the market and eventually gain a percentage of the market share. This serves to introduce a more rigorous competition. New entrants are likely to face barriers to the market, a factor that serves as an advantage to the existing businesses. It is important for a business to identify whether there are any barriers that can keep away new entrants. These barriers include the cost of investment, legal restrictions, access to the supplier, lack of access to distribution channels, and the potential retaliation by the existing products. Unless these barriers exist, new entrants find their way into the market easily triggering increased competition (Rice, 2011). Snack food companies face an evident threat from new entrants that promise customers healthier and natural products.  The threat of Substitute Products Businesses face the entries the availability of substitute products that target the same need and niche. This is because the existence of substitute products limits the potential prices for products and eventually reduces the level of profits. Therefore, snack food companies must analyze the price and the performance of the existing substitute products and recognize how they compare to other existing products in the industry. Moreover, it is of significant importance to determine whether customers are willing to try out the substitute products or they exhibit loyalty. ...Download file to see next pagesRead More
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