strama midterm 3rd year

DIRECT COMPETITORS

within the industry or sector offering the same or similar products or services.

SUPPLIERS

is to provide inputs or doing a supportive role to the key players belonging to the middle box who are competing with one another.

SUBSTITUTES

generally refers to products or services which prospective buyers can buy or source elsewhere whose utility, function, and/or use is similar (or can act as substitute) to a desired product for a lesser price or other reasons.

PRODUCT SWITCHING

Substitutes exert pressure in the market in that

SUBSTITUTE

products or services are capable of providing similar benefits, value or utility to the buying party; henc it is but natural for consumers to exercise their choice given the limitations at their en

switching cost

is a factor that leads prospective customers to entertaining or considering the idea of buying or patronizing other products for variety of reasons

DIRECT SUBSTITUTE

the product or service being offered is a

COMPARATIVELY HIGH

but the promise of immediate or short and long-term benefits is much more.

SWITCHING COST or ADDITIONAL EXPENSE

in acquiring a product (may it be direct or indirect substitutea) that would somehow scare the prospective buyer but amount (or the differential price) involved and the benefits it promises are matter that are inviting the prospective buyer to further think about it.

BUYERS

are objects of desire of businesses competing in the same segment or industry

BUYERS

are considered a strong competitive force in a variety of ways.

BARGAINING POWER

of buyers relates to the ability of the prospective buyers to seek discounts or better deals and prices given certain conditions favorable to them. This is particularly true in the Asian market where bargaining and quest for discount is prevalent even with a tag price indicated on the product.

POTENTIAL AND NEW ENTRANTS

may not be considered active players but in Porter's business competition model, they are considered threat to existing business concerns

POTENTIAL AND NEW ENTRANTS

refer to business organizations attempting to or have now joined the market trying hard to make a name for their product and the business organization as a whole. As new players, the new entrants are likely to introduce a marketing strategy that will somehow affect the market share of vulnerable players in the market.

NEW ENTRANTS

in the industry bring in extra capacity to the industry and any increase in demand can be an opportunity for new entrants.

stakeholder

the _________group is a sector of the economy or society which may be considered an indirect player in the business arena unlike the other five major components of the Porter business competition model but may have bearing upon the business as a whole.

stakeholder

nongovernment organizations (NGOs), religous organizations, civil society, professional organizations/societies, grassroots organization, and other bodies with indirect interests on a particular business, Parties in the stakeholder group are not buyers, sellers or suppliers, but the noise, efforts and advocacies they pursue can have substantial or devastating impacts among the players in the business.