TITLE:
Relevance of Porter’s Five Forces: A Case Study of RB Patel in Fiji
AUTHORS:
Shivneet Vikash Chand
KEYWORDS:
Porter’s Five Forces, Competition, Substitutes, Bargaining Power of Buyers and Suppliers, RB Patel in Fiji
JOURNAL NAME:
Open Journal of Business and Management,
Vol.11 No.5,
September
12,
2023
ABSTRACT: The Porter Five Forces
Analysis is a framework for evaluating the degree of industry competitiveness
and the creation of corporate strategies. It derives five forces from
organization that control the level of competition and a market’s attractiveness. It was found that fierce competition is a major
worry for RB Patel. Threats from new entrants
are posed by the lack of patents, low switching costs for buyers, and
straightforward wholesale distribution networks for suppliers. Hence, there is
presence of heated price competition between RB Patel and other supermarkets.
Overall, the paper provides a literature review on Porter’s Five Forces.
Further, the paper provides an analysis of
porters five forces including: the threat of new entrants to the retail industry,
the threat of substitutes, powers of both buyers and suppliers to highlight the
intensity of rivalry between competitors in the retail (supermarket) industry.