Learn Five Forces Analysis (Porter's)
A way to measure how “tough” your industry is and how much profit you can make.
What is Five Forces Analysis (Porter's)
Think of Five Forces as “Scouting the Other Teams.” Created by Michael Porter, this tool looks at five different “pressures” on your business, like how easy it is for new rivals to start up or how much power your customers have to demand lower prices. It helps you realize if you are in a “friendly” market or a “battleground,” so you can adjust your prices and plans accordingly.
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