Topic > Rivalry in the competitive market: 518

factors. The most attractive sector is one in which barriers to entry are higher than normal and barriers to exit are low. These two things will allow companies to enter a less competitive scene with an easy exit, if necessary. -Power of the supplier. The bargaining power of suppliers is also described as the input market. Suppliers may refuse to cooperate with the company, which is why you need to have a good brand reputation and good customer relationships. There is another option where the supplier charges high prices for unique resources, during which geographical coverage and tendering processes along with the company's capabilities play an important role. -Competitive rivalry. Rivalry has always played an important role in the competitive market. For most industries, the possibility of rivalry is the main determinant of firm competitiveness. Each sector has its own number and size of businesses. The greater the number of companies in an industry, the greater the differentiation and quantity of strategies at their disposal. Every business should be flexible through customization and variability...