Threat of new entry: Threat of new entrants, or how easily a new business can establish itself in your market and nicheД®xamining each of these forces in the five forces analysis template gives you an overall picture of your competition and the state of your market.Threat of substitution: The threat of substitutes, or the existence of alternate products that customers could turn to in the place of your product.Buyer power: The bargaining power of buyers, or the ability of buyers to bring product prices down with their ability to go to another company for goods.Supplier power: The bargaining power of suppliers, or how easily they can drive up prices of supplies in your market.

Competitive rivalry: The rivalry of existing competitors in your market, specifically how many competitors there are and what capabilities they have to affect market shares.It examines the 5 forces of Porter, which include: The PorterвЂ™s Five Forces model template is a specific type of situation analysis. From there, you can brainstorm effective strategies to get ahead. You can use a PorterвЂ™s 5 Forces template to guide a collaborative assessment session with your executive team. Assess your business competitors with the Lucidspark PorterвЂ™s 5 Forces templateД¬ompetition is an inescapable part of the business world, and if you want your company to be successful, you need to accurately assess your competitors and come up with strategies to out-perform them.

Lucidchart competitors