Assignment: Identifying the Competition
Write a 2-3- page assessment of the competition by answering the 6 questions below. Use Michael Porter's 5 Forces Model as the guide to answering the questions. Be sure to be clear and concise in your responses but to provide enough detail to demonstrate your knowledge. Make sure you carefully integrate the specific information needed for you to complete all aspects of Phase I of your project. Use references and citations throughout.
Remember to enter the name of your selected client (The YWCA of the City of New York) at the top of your research paper.
Consider and address the following questions when developing your Competitive Analysis:
1. Who are the two major competitors for your client? Why did you select them?
2. How competitive is this industry? Is the competition based on price or nonprice competition?
3. Who are the suppliers in the industry and what type of power do they have?
4. To whom does your client sell their product or service to? What bargaining power to these customers have?
5. What is the likelihood that customers will switch to a different product or service? Why?
6. What is the probability that new competition can emerge in the market and why?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.