What’s inside Porter’s Five Forces Meeting Template:
1 Step 1: Consider threats of new entry
How easily could others enter your market and threaten your company’s position? Who are your new competitors? How much does it cost to enter your market? What are the barriers to entry? Is your market tightly regulated? What does it take to scale?
2 Step 2: Consider threats of substitution
What is the likelihood that your customers will replace your product or service with a different one? Are there any viable substitutes on the market? What is the cost of switching to a substitute?
3 Step 3: Consider the bargaining power of suppliers
What would happen if your suppliers increased their prices? Is that likely to happen? How easily could you switch to an alternative supplier?
4 Step 4: Consider the bargaining power of buyers
How many buyers do you have? Could your buyers switch suppliers? How many would need to switch suppliers to impact your bottom line? How important is your product or service to your buyers?
5 Step 5: Consider competitive rivalries
Who are your existing competitors? How strong are they? How do their products or services compare to yours? What sets your company apart? What would it cost your customer to switch to a competitor?