Analysis of Fast Food Industry: McDonald’s
A porter’s model is a powerful tool for understanding where power lies in any particular industry or business. It helps the businesses to understand their position in the market, the steps they need to take to improve their sales by beating the competition and become the market leaders. There are five basic components in the porter’s model, they are: 1. Threat of New entrants 2. Threat of substitutes 3. Competitive Rivalry 4. Power of buyers and 5. Power of Suppliers. If we look at today’s fast food industry then we can easily apply porter’s model and ...