Definition of Porter Five Analysis
Porter Five Analysis is defined as a tool that can assess the level of competition that prevails within any industry or business strategy development. This theory thrives upon Industrial Organization alias IO Economics to derive five forces that decide the competitive intensity, resulting in the attractiveness of the market. Attractiveness can be defined as the profitability of the overall industry with respect to this context.
A graphical representation of Porter Five Forces Analysis consists of Industry Rivalry Factor within a circle that is surrounded by four arrows. These arrows are factors like Bargaining Power of Suppliers, Threat of New Entrants, Threat of Substitutes and Bargaining Power of Buyers.
Textbooks on Porter Five Analysis
Porter Five Analysis is a framework as a whole rather than just a tool or technique for marketers to utilize for framing their strategies with market elements. Here are some details of textbooks that can help marketers in understanding Porter Five Analysis:
- International Management: Strategy and Culture in the Emerging World by David Ahlstrom and Garry Bruton (Published by Cengage Learning – Year 2009).
- Strategic Management: An Integrated Approach by Charles Hill and Gareth Jones (Published by Cengage Learning – Year 2007).
Examples of Porter Five Analysis
Example 1: An interesting example of Porter Five Analysis can be its utilization by strategy consultants on an occasional basis while they design a qualitative assessment of the strategic position regarding a company. These consultants try their best to apply the features of this analyzing technique so that the company under consideration can be judged on its competitive ability, whether it can perform well in the market on a long term basis or not.
Example 2: Another interesting example of Porter Five Analysis can be its utilization by marketing consultants who are directly involved in the marketing and sales operations of the company on a daily basis. They can utilize this framework to assess the competitiveness of the company and can then device the future pricing and promotional activities of its products or services.
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