WSU MGMT 491 - Five forces of Competiton

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5 Terms

1
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Threat of new entrants

how easily new competitors can enter an industry and erode the profitability of existing firms

2
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Bargaining power of suppliers

how much influence suppliers have over the prices and availability of inputs

3
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Bargaining power of buyers

how much influence customers have on pricing and product quality

4
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Threat of substitute products

whether customers can switch to an alternative product that fulfills the same need

5
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Rivalry among competing firms

how fiercely firms compete within an industry