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Essay / Market Rivalry: Samantha's Five Forces Could Help Samantha
A) Explain how an analysis of the five competitive forces could help Samantha. Porter's Five Competitive Forces framework will help Samantha analyze competitive analysis and develop her business strategy. This will help it determine the competitive intensity and attractiveness of the market segment in which it is involved. In this case, Samantha's twig pruning services will be influenced by the following five forces: • Threat of new entrants • Threat of substitutes • Bargaining power of buyers • Bargaining power of suppliers • Industry rivalry By examining the five forces above, Samantha can better understand how to get more profits, understand the competitive market and leverage bargaining power. A detailed analysis is that the pricing strategies that she can use in her business are things like: Quantity Discount – This is an incentive to make customers buy more of her services, And the other strategy can be to offering seasonal discounts – this is an incentive to make seasonal compensation. services. For example, this may involve offering services to customers every month due to different tree trimming periods. The promotion will help Samantha with her marketing. “Promotion is the method you use to advertise your product or service to customers, stakeholders and the general public” (Smallbusiness.wa.gov.au, 2014). Once Samantha has identified her target market, it will have a broader idea to achieve them, but most companies use a mix of advertising, personal selling and sales promotion to promote their(2014). Strategic Management: Sustainable Competitive Advantage as a Focus of Business Strategy Retrieved November 12, 2014 from http://www.1000ventures.com/business_guide/crosscuttings/sca_main.htmlSmallbusiness.wa.gov.au (2014). Pricing Strategy. Retrieved November 12, 2014 from http://www.smallbusiness.wa.gov.au/pricing-strategy/Smallbusiness.wa.gov.au (2014). 2014 at http://www.smallbusiness.wa.gov.au/marketing-promotion-strategy/ http://www.tutor2u.net/business/images/competitive_strategies.gif Boykin, G. (2014) . The effect of marketing information system on sales performance. Small Business - Chron.com. Retrieved November 13, 2014 from http://smallbusiness.chron.com/effect-marketing-information-system-sales-performance-75193.html (D. Kroenke, Bunker, Wilson, Information Systems and Decision Making. Experiencing Mis,.