Steinway - Five Forces Analysis

Steinway - Five Forces Analysis

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Intensity of Existing Rivalry

Exit barriers are low (Steinway) When exit barriers are low, weak firms are more likely to leave the market, which will increase the...
Large industry size (Steinway) Large industries allow multiple firms and produces to prosper without having to steal market share...
Relatively few competitors (Steinway) Few competitors mean fewer firms are competing for the same customers and resources, which is a...

Bargaining Power of Suppliers

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Low concentration of suppliers (Steinway) A low concentration of suppliers means there are many suppliers with limited bargaining power. Low...
Inputs have little impact on costs (Steinway) When inputs are not a big component of costs, suppliers of those inputs have less bargaining power....
Critical production inputs are similar (Steinway) When critical production inputs are similar, it is easier to mix and match inputs, which reduces...
Volume is critical to suppliers (Steinway) When suppliers are reliant on high volumes, they have less bargaining power, because a producer can...

Threat of Substitutes

Substitute has lower performance (Steinway) A lower performance product means a customer is less likely to switch from Steinway to another...
Substitute is lower quality (Steinway) A lower quality product means a customer is less likely to switch from Steinway to another product...
Substitute product is inferior (Steinway) An inferior product means a customer is less likely to switch from Steinway to another product or...

Bargaining Power of Customers

Buyers require special customization (Steinway) When customers require special customizations, they are less likely to switch to producers who have...
Low buyer price sensitivity (Steinway) When buyers are less sensitive to prices, prices can increase and buyers will still buy the product....
Low dependency on distributors (Steinway) When produces have low dependence, distributors have less bargaining power. Low dependency...
Product is important to customer (Steinway) When customers cherish particular products they end up paying more for that one product. This...
Limited buyer choice (Steinway) When customers have limited choices they end up paying more for the choices that are available....

Threat of New Competitors

High capital requirements (Steinway) High capital requirements mean a company must spend a lot of money in order to compete in the...
High sunk costs limit competition (Steinway) High sunk costs make it difficult for a competitor to enter a new market, because they have to...
Strong brand names are important (Steinway) If strong brands are critical to compete, then new competitors will have to improve their brand...
Advanced technologies are required (Steinway) Advanced technologies make it difficult for new competitors to enter the market because they have to...
Patents limit new competition (Steinway) Patents that cover vital technologies make it difficult for new competitors, because the best...
Customers are loyal to existing brands (Steinway) It takes time and money to build a brand. When companies need to spend resources building a brand,...
High learning curve (Steinway) When the learning curve is high, new competitors must spend time and money studying the market...
Entry barriers are high (Steinway) When barriers are high, it is more difficult for new competitors to enter the market. High entry...

What is Porter's Five Forces Analysis?

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