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BIO375H Week 1 Readings.docx

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Department
Communication
Course
CMN 124
Professor
Shavin Malhotra
Semester
Fall

Description
Mehta p.13-18 Michael Porter’s five forces model of industry analysis best way to gain competitive advantage; strategic planning 1. Supplier power: how much influence does a supplier have in the industry and how is it exerted? Is there a need to consider a strategy that includes the supplier as a partner? 2. Buyer power: how much influence does an individual buyer have in the industry and how is it exerted? What is the price sensitivity among various buyer groups? Is there a need to consider a strategy that includes the buyer as a partner? 3. Threat of substitutes: is there a switching cost to switch to a rival’s products and what are the trade-offs and comparisons between alternatives and substitutes? 4. Barrier to entry: if a particular barrier to entry (patents, large investment, specialized knowledge) is identified, how can you cross it and then keep it up to slow down competitors? 5. Industry rivalry: what are the exit barriers, product differences, brand power, growth rate in industry, fixed costs among firms, concentrations of firms in market share, etc.? Competitiveness summary for the pharmaceutical industry  Chemical manufacturers are suppliers to the pharmaceutical companies. switching costs
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