Consumer product brands are able to launch more easily (and successfully) due to lower costs of manufacturing and an iimproved ability to target potential consumers through social media. Which of Porter's 5 forces has eperienced the strongest chagn in teh 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 iimproved ability to target potential consumers through social media. Which of Porter's 5 forces has eperienced the strongest chagn in teh 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 iimproved ability to target potential consumers through social media. Which of Porter's 5 forces has eperienced the strongest chagn in teh overall power?
- supplier power
- substitutes
- buyer power
- barriers to entry
Expert Solution
Step 1
Porter's five forces can be described as an effective and efficient tool that can help in understanding the chances of profitability and the business environment. It is important to mention that the profitability of a business increases when the forces working in the industry or environment are known.
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