Porter's five forces Model is a powerful
tool to understand the competition in the market. These forces determine your
current business position and pave the successful way. Porter's model consists of 5 competitive
forces that will help you in identifying the competitive power in business. These
five competitive forces are: 

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 Threat of substitute products

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 Threat of new entrants

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 Intense rivalry among existing
players

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bargaining power of suppliers

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 Bargaining power of Buyers Threat of
Substitute Products

Threat of substitute products- It indicates how
effectively your customer switch from your product to competitor's product.&nbsp; Threat to
New Participants 

As a new competitor enters your market it
debilitates your strength. Risk of new passage relies on entry and exit
barriers. Intense
Rivalry Among Existing Players

Industry Rivalry mean the power of competition
among the current rivals in the market, it relies upon number of contenders and
their capabilities Bargaining
Power of Suppliers-

Bargaining Power of supplier implies how
difficult is the situation of a supplier.&nbsp; Bargaining
Power of Buyers 

Bargaining Power of Buyers implies, How much
control the they need to degrade the cost of their item, Can they cooperate in
requesting substantial volumes.&nbsp;

Porters five forces Model Article

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