The 5 Competitive Forces - Deepstash

The 5 Competitive Forces

In order to become a profitable company, we must consider the forces that influence profits:

  1. Buyers who'd like to pay less but get more
  2. Suppliers who'd like to earn more but ship less
  3. Substitutes who don't seem like competition but are
  4. New entrants who come into the market with competitive pricing making rivals spend more; and
  5. Existing rivals

These five forces define every industry's structure and shape companies' future. By understanding how these five forces work, you'll be able to create more competitive strategies and increase your profits.

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karlabro

Maintenance engineer

Competition makes markets strive to earn more than their counterpart, here, we listed the five forces that influence the competitive market.

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