Les 5 forces de Porter - Formation RPMS

Join us today for a new video! Together, we'll look at how to conduct a competitive analysis using Porter's 5 Forces, using a concrete example. 00:00 What are Porter's 5 Forces? Developed by Professor Michael Porter, Porter's 5 Forces model is a tool used to analyze competition in a market. In other words, it allows for a study of the microenvironment. 00:42 The 5 forces of the model are: Competitive intensity, The threat of new entrants, Customer bargaining power, Supplier bargaining power, Substitute products, and finally, the 6th force, not initially present, but nonetheless a determining factor: State influence This is a useful tool for: Analyzing a market ​​Launching a new product Or for conducting competitive intelligence With this tool, you can ensure the profitability of your business, specify the threats you want to position yourself against, and the strategy to implement to address them. This will provide you with the key success factors. This tool is generally used during a strategic assessment in conjunction with a SWOT matrix and a PESTEL analysis. We have produced videos on this topic, which you can find right here! :    • Comprendre le Diagnostic Interne et Extern...   And if you want to develop your skills and knowledge in marketing and management, you can take our Small and Medium-Sized Business Manager (SMB) training course: https://dgboost.fr/cours/responsable-... 01:45 Competitive intensity: This is the intensity of rivalry between competitors and therefore the pressure exerted based on various factors such as: the number of competitors, the growth of the sector of activity, the competitive position, the degree of competitor differentiation, and barriers to entry and exit (financial, commercial, social pressures, etc.), 02:20 The threat of new entrants: These are the new players who will enter the market. To counter them, existing players may attempt to erect barriers to entry such as: Strong brand awareness Product innovation Controlled access to resources Patents and/or technologies Or government pressure, for example. 02:49 Customer bargaining power: This is based on the concept of supply and demand, meaning that there is a balance of power between the company and its customers. This is why it is advisable to diversify your customer portfolio and innovate regularly. So, when you want to measure customer bargaining power in your company, you will need to take into account: the number of customers and their respective weight in the business, the size of the customers, and their location. 03:26 Suppliers' bargaining power: Here, we find the principle of supply and demand. The more of them there are, the less power they will have; and conversely, the fewer of them there are, the more power they will have. 03:47 Substitute products: This refers to a product that can replace another and meets the same needs. It will therefore be necessary to consider: the attractiveness of competitors' products, the ease with which a customer switches to a competitor, and the value of the substitute product in relation to its price. The greater the value of the product, the greater the risk of competition. It is therefore necessary to constantly innovate in order to provide more value to customers. 04:15 The influence of the State: Public power is an external factor that can intervene on behalf of your market or, on the contrary, constrain it through: standards, rules, and legislation. 04:42 The Sector Hexagon To analyze Porter's 5 forces, you can create a traditional table and fill in the appropriate information in each column, or you can also use the sector hexagon. It's a practical and visual tool that will help you identify the intensity of each force. To do this, simply create a sort of spider web and place a scale from 0 to 5, or up to 10 if you wish. 05:00 Example of Porter's 5 forces in a toy store. For any #training inquiries, please contact us by email at: [email protected] Our social media: ➡️ Website: https://www.academie.avec.fr/ ➡️ Facebook: facebook.com/academieavec ➡️ LinkedIn:   / academie-avec   ➡️ Instagram:   / academieavec   #Dgboost, training organization of the #AVEC Group: https://www.avec.fr Design: Quentin Ménard Illustration: Farah Bahassou