Complete competitive analysis of the retail floral industry

Reference no: EM133249131

Assignment - Competitive Analysis Essay

Question Description - Competitive Analysis-Porter's Five Forces

Complete a Competitive Analysis of the retail floral Industry (flower shops and other retail establishments that sell flowers) to determine the industry's competitive environment and its potential for profitability.

Evaluate each of the Five Forces using Porter's Five Forces Industry Competitive Analysis ( Threat of New Entrants; Bargaining Power of Suppliers; Character of Rivalry; Bargaining Power of Buyers; and Threat of Substitutes). Provide factual information to support your evaluation of each force's strengths (use to designations of low, moderate, or strong for each of the forces).

Based on your Analysis of the strength of the five forces and the resultant competitive nature of the industry, what would be an effective overall strategy for a firm entering the industry to be profitable? Consider all the types of firms in the Industry that floral supply products (i.e., Wal-Mart, Kroger's, local floral shops, online florists, etc.). The four strategy choices are broad low-cost, focused low-cost, broad differentiation, and focused differentiation. Some companies combine several of these strategies. For example, Southwest Airlines has a combined focused low-cost and differentiation strategy. Explain why your choice of strategy will help to make your company successful in the Industry?

Reference no: EM133249131

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