What Are Porter‘s Five Forces?

Porter's Five Forces is a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry's weaknesses and strengths.

Five Forces analysis is frequently used to identify an industry's structure to determine corporate strategy.

The Five Forces model is named after Harvard Business School professor, Michael E. Porter.

These are:-

1. Competition in the industry

2. Potential of new entrants into the industry

3. Power of suppliers

4. Power of customers

5. Threat of substitute products