Your Business
May 31, 2008 by admin · Leave a Comment
How can competition affect your business?
I have to research competition for my Business Studies coursework, and I got stuck with the question 'How can competition in your area affect you business?'. Any answers would be very appreciated.
As a student, you will find it useful to look up in textbooks or on the net "Porter's Five Forces". prof. Porter outlined five forces that act upon a market so as a student you will score well if you write a paragraph on each force. Very briefly, the forces are:
1. Threat of Substitute Products or services
2. Threat of New Entrants into the market (Called Barriers to Entry)
3. Power of Suppliers to influence prices paid for supplies to a company.
4. Power of Buyers to push prices downwards
5. The degree of competitive rivalry in the market between competing firms.
The websites below will give you a good idea of the effects of each. Good luck with the assignment.
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your gift business is not making money? need traffic? $99.95 |
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Marketing your photography business, guide & templates $95.00 |
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Managing Tax in Your Business, Robert Walters, Good Boo $92.15 |
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Business Opportunity Painting, start your own business $89.00 |
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Professional LOGO DESIGN for your business or website $79.99 |
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2500 ROUND CORNER 16pt UV BUSINESS CARDS - Your Design! $79.50 |
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WEBSITE To PROMOTE Your MORTGAGE BROKER Business $79.00 |
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Custom WEBSITE For Your DAYCARE / BABYSITTING Business $79.00 |
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WEBSITE For Your PRIVATE INVESTIGATOR Service Business $79.00 |
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Custom Website To Promote Your PHOTOGRAPHY Business $79.00 |
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How To Grow Your MLM Business Online Effeciently $77.00 |
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500 3.5" x 2" MAGNETIC BUSINESS CARDS - YOUR DESIGN! $76.99 |
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TWO - 2X7ft "WE WANT YOUR BUSINESS" COLOR BANNERS/SIGNS $75.00 |
