Five Competitive Forces
Last week I promised more information about the various competitive forces a business faces.
In past posts we have tackled the categories of direct competition. This makes up just one of Porter’s Five Forces.
What is the Five Forces model
Michael Porter developed his “Five Forces of Competitive Position Analysis” in 1979, creating some timeless truths in the process.
The competitive positioning of a business is an understanding of where the business sits within its market, what its opportunities are, and the navigational difficulties or advantages it may have. It is marketing, in the classical sense of the word.