General

hbr.org

The competitive forces that shape strategy — in under two minutes.

The Porter 5 forces of competitive forces:

• Assumes that participants are already in the market (not really effective with emerging startups)

• While competition is real, the largest player has more influence (economy of scale & scope) on the market than new entrant

Working on crafting a customer discovery survey, hoping to uncover unspoken insights, maybe we will discover a blue ocean. Like who knew consumer will love coffee capsule, or the long queue for a $5 bubble tea while a meal of rice goes for $3. Counter intuitive in my opinion. Then I recall, we used to buy greetings cards for $4, sometimes $12 each, for well wishes to our friends and love ones. We don't anymore. This market segment vaporised.with changing consumer habits. And we used to subscribe to weekly fresh milk supply at school or home.. And many more things. And wait patiently for our weekly magazine to arrive in our letter box, or get mad when our daily newspaper arrive late... Consumer habit change. Are we ready to ride the first wave?