Consumer product brands are able to launch more easily (and successfully) due to lower costs of manufacturing and an improved ability to target potential consumers through social media. Which one of Porter's 5 forces has experienced the strongest change in the overall power? - supplier power - substitutes - buyer power - barriers to entry
Consumer product brands are able to launch more easily (and successfully) due to lower costs of manufacturing and an improved ability to target potential consumers through social media. Which one of Porter's 5 forces has experienced the strongest change in the overall power? - supplier power - substitutes - buyer power - barriers to entry
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Consumer product brands are able to launch more easily (and successfully) due to lower costs of manufacturing and an improved ability to target potential consumers through social media. Which one of Porter's 5 forces has experienced the strongest change in the overall power?
- supplier power
- substitutes
- buyer power
- barriers to entry
Expert Solution
Step 1
Porter's five forces is a framework that emphasizes the five competitive forces. It helps in determining the strengths and weaknesses of an industry. Furthermore, Porter's five forces also help in understanding the structure of an industry by determining its corporate structure.
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