Question

Enumerate and explain the barriers to the forces of competition.​

Answer 1

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Rather, the state of competition in an industry depends on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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Answer 2

Enumerate and explain the barriers to the forces of competition.​

• The risk of a market share loss for an established business increases when new competitors find it simpler to enter the market. Absolute cost advantages, access to inputs, economies of scale, and strong brand identity are a few of the entry-level barriers.
• They consist of: the possibility of indirect competition—the existence of products with comparable performance. the potential for new competitors to enter the market. Pressure from suppliers: When there is a great demand for inputs, suppliers may raise their prices.
• Price - Entrants may find it difficult to set their prices as low as incumbents in the face of intense price rivalry. As a result, monopolies or oligopolies with dominating pricing power are common in industries with high entry barriers.
• These forces affect a company's profitability by affecting the quantity and strength of its rivals in the market, possible new market entrants, suppliers, customers, and replacement products. Business strategy can be guided by a Five Forces analysis to boost competitive advantage.
• The Porter's Five Forces Model, as it is more popularly known, consists of the following five forces: the level of competition, the threat of possible new competitors, the bargaining power of customers, the negotiating power of suppliers, and the threat of replacement products and/or services.

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