Swot Analysis Of Runway

Business Environments and Porters based on the movie

Level of rivalry in the market – Miranda main competition is Jaqueline because she might take Miranda’s job and she is with the chairman of Elias Clark, so Jaqueline knows a lot about the business and how to function it and everything about it.

Availability of substitute products – They had to do a photo shoot on a new collection and instead of paying for a big fancy venue they just went to the park and took photos for free.

Threat of new entrants in the market – At the end of the movie Nigel said that he will be partners with James Holt and his new international company called James Holy International, since Nigel works at Runway and knows everything about Runway so that is a threat to Miranda

The management has less control that the micro environment because it can influence factors like convincing the customers to but the products but cannot for it

Porter 5 Forces Model:

Level of rivalry in the market - It is to gain as much information about competitors as possible like location/ strategies/ products. It is the amount of competitors and the ability to threaten a business. Suppliers and buyers seek out a business’s competition if they are unable to receive a suitable deal.

Availability of substitute products – An alternative to the product if the original product cost too much money to process which can cause a business power to weaken in the economy.

Threat of new entrants in the market - It is the future competitors that may come into the market. The less money and time is costs for a competitor to enter the business’s market and be an effective competitor the more the business’s position could weaken.

Power of suppliers – Who would be the dominant one in the relationship whether it is the business or the suppler. Suppliers can easily increase the price of goods and services, it’s affected on the number of aspects of a good and services and how unique the aspects are and how much would it cost for a business to switch

The economy can affect the purchasing power of a customer and change supply and demands models for the economy.

Social – It is trends in the market that catches people attention like culture, tastes and fashion on social media, the young customers have social media. The younger the generation prefers to use technology.

Technological – Since technology is constantly changing and the business’s need to try to keep up to date with the technology which could be very costly and can result in employee’s jobs being taken over by technology.

Legal – It is the laws of the country the business is in which can lead to a major effect on the business. It is both external and internal.

Ethical – It is someone that has good morals, so their behavior towards people and staff and follow the moral standard to their profession.

Environmental – The business must be aware of the way they are running the production process because most customers will only support a business that care about being environmentally friendly. It involves those who influence or are determined by the surrounding