Clothing

Comparing Products by using Porter’s Force Model

Comparing products by using Porter’s competitive force model.
Porter’s competitive force model was created by Michael Porter’s since 1985. Nowadays, many big companies using this model to develop strategies in order to improved their business and increased their competitive edge. There are 5 major forces that can become harm to the company listed below:

The threat of entry of new competitor.
The bargaining power of suppliers.
The bargaining suppliers of customers(buyers).
The threat of substitute products or services.
The rivalry among existing firms in the industry.

CLOTHING

Nowadays, there are a lot of products produced by many countries depends on their style, culture and civilization. In economic field, there are a lot of competitors too competing each others products. For example, Myanmar and foreign products are really different. Thus, most of the foreign products are able to enter to the market easily because the local people might want to use the foreign products. This case deals with the porter’s first force.

Secondly, since the prices of foreign products can investigate at online means that it is easy to compare the clothes of local and foreign. Because some of the clothes are imported by other countries so the price might be different. But the customers can survey first at online. This case deals with the porter’s second force.

Thirdly, the companies increase a buyer’s access to information about products and suppliers so the customers can trust them. They can save the time and money and they can decide which one they should buy. In this ways, the internet greatly increases customer’s bargaining power. And this case deals with the porter’s third force.

These days, the popular thing among the business fields is copying or substituting the products for example Giordano, I-max. Some of the companies emulate other companies’ products with same brand and same style. So, the customers should aware of that. To overcome that, the customers should investigate at online. This case deals with the porter’s fourth force.

Lastly, there are a lot of rivalry in business too because of the fewer differences of the products among the competitors. For example, the popular name among the clothes brand are I-max and Giordano. It is difficult to keep secret on internet about the clothes products. If you don’t mention it, the customers will not know about your products. So, this case deals with the porter’s five force.

In brief, as a big company in this industry we have to make a strategy by using this five Porter’s competitive force model. This model will help and show you the best way to become a very successful company in the world.