Five Forces Porter's Textile Industry
Any person, who wants to start his /her business in any other country, must scan the environment that affects their business in any way. For analyzing the factors affecting to the business, porter’s five force analysis can be done. As we want to export the viscose filament yarn into the market of Jordan, we have to analyze the different perspectives for running the business successfully. The Porter’s five force analysis of Jordan’s textile industry is as under:
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1) Threat Of New Entrants:
Profitable markets that yield high returns will draw firms. The results are many new entrants, which will effectively decrease profitability. Unless the entry of new firms can be blocked by incumbents, the profit rate will fall towards a competitive level.
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How easy it is for suppliers to drive up prices is driven by the number of suppliers of each key input, the uniqueness of their product or service, their strength and control over their customers, the cost of switching from one to another, and so on. The fewer the supplier choices one company has, and the more it needs suppliers ' help, the more powerful its suppliers are. Here, the bargaining powers of suppliers are low as there are very few suppliers so there is great opportunity for us to export the viscose filament yarn to the Jordanian …show more content…
there is no proper substitute of it. But the fabric is somewhat close substitute to the filament yarn but not as effective to the yarn so there is less threat of close substitute to the firm.
5) Competitive Rivalry within the industry:
For most industries, this is the major determinant of the competitiveness of the industry. Often the greater the number of players, the more intense the rivalry, however, rivalry can occasionally be intense when one or more firms struggle for market leader position. Rivalry also intensifies if companies have similar shares of the market, leading to a race for market leadership. In a growing market, firms are able to grow revenues simply because of the expanding market whereas, in a stagnant or declining market, companies often fight intensely for a smaller market.
Rivalry is intense among competitors in the textile industry. There has been tendency to cheat on price agreements to increase their market share. Some of Jordan’s competitors have also received government assistance, which was given them a competitive edge. So the rivalry within the industry tends to medium level of
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