Question

Some industries' competition is much more intense than others. Retail grocery stores such as Kroger, Safeway, and Albertson's in the United States experience fierce competition and offer similar marketing campaigns to compete. What is this an example of in terms of Porter's Five Forces?

Answer 1

Rivalry among existing competitor

Explanation:

Porter has given five forces that can shape or manage any type of industry. These forces help the industry to find its strengths and weakness. If someone wants to grow their industry then should know about these five forces that help in identifying industry structure and determine the corporate strategy. These strategy used in any segment to know the benefits and losses of the industry. The name was given after Michael E. Porter.

Five forces are there:

1. competition in the industry.
2. Potential of new product in the industry
3. Supply powers
4. The threat of the substitutes
5. Depend on customer power