Five Forces Model
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In addition to the macro-environmental forces which affect marketing plans, marketers must carefully consider the industry and competitive environment. The firms that can affect the marketer more directly are the rival firms, supplier firms, customers, firms that offer substitutes, and new entrants into the industry.
Michael Porter best describes the industry and competitive environment. In this video, Porter describes the Five Forces model he developed to better inform management and marketers to develop sustainable strategies within their firms.
Source:
Harvard Business Review , https://www.youtube.com/watch?v=HJJDKKrRBNM
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Last modified: Thursday, 14 July 2022, 1:20 PM