Posts Tagged ‘switching costs’

Identifying Product/Service Substitutes That Could Compete For Your Market

Tuesday, March 21st, 2017

Michael Porter revolutionized the world of business strategy when he developed his Five Forces framework, which evaluates the competitiveness — and resulting attractiveness — of an industry based on five competitive forces. We’ve discussed the framework previously, but now we’re taking a more in-depth look at each individual force. Today, we’re looking at the threat of substitutes. (more…)

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