Here is the synopsis of our sample research paper on How Marketers can use Porters Five Forces Model. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 3 page paper considers how Porters Five Forces model can be of great benefit to marketers and how the application of Whittington’s different schools of thinking; classical, evolutionary, processual and systemic may impact on the way marketing is developed. An example is used to demonstrate the dangers of not using models such as Porters Five Forces when formulating marketing strategy. The bibliography cites 1 source.
Page Count:
3 pages (~225 words per page)
File: TS14_TEp5force.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
often associated with strategic planning and development, and whilst strategy needs to be undertaken with an alignment to market needs and reference to the market department. Moreover, there are lessons
that can be taken and used directly by the marketers, especially when considered in line with Whittingtons four schools of thinking; Classical, Evolutionary, Processual and Systemic (Whittington, 1993). Porters
five forces considers the issues of threat of existing competitors, and the threat of new entrant, the power of suppliers and the power of buyers and the availability
of substitutes. It may be argued that where there is low competition it is likely that the buyers have little power over the suppliers, but this, if there are also
superior profits due to the lack of competition, may also be a temerity position and be susceptible to new threats. The marketer has to look to the future as well
as the current situation in order to develop a strategy for immediate and long-term sales. If we look at each way of thinking then an understanding when considering the
different factors identified by Porter the impact of different thinking types may impact on the marketing ideas and strategies followed. The first threat is that of the existing competition. The
classical school of though is the typical and logical, with strategy planned and followed. Here there may be an examination of the market, and where there is a high level
of competition the use of models such as the 4 Ps to increase the perception of differentiation. Tools such as promotions and traditional marketing approaches may be used where there
is little competition then marketing budget may be allocated elsewhere r take on a more passive quality, this will have lower marketing costs but still be aimed at profit maximisation.
...