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Porters Five Force's
Transcript of Porters Five Force's
Dyson introduced their new G-Force Dual Cyclone which refashioned the vacuum cleaner market.
This made Hoover unhappy and they failed to innovate.
Dyson has used unique techniques to create their products.
Dyson will become the substitute with their Dyson vacuum cleaner with dual cyclones.
Porters Five Forces
Dyson VS Hoover
How Dyson & Hoover use Porters Five Forces
Competitive rivalry within an industry
The Porters Five Forces are:
Threat of new entrants
Bargaining power of customers
Bargaining power of suppliers
The Porters Five Forces is a framework for industry analysis and business strategy development formed by Michael E. Porter of Harvard Business School in 1979.
Competitive Rivalry within an industry
within the vacuum industry there are many competitors such as Phillips, Samsung, Hoover, Dyson etc.
Phillips is one of the most successful companies in the electricity area, with great brand image and ability of beating others with better products.
Hoover and Dyson both focus on the vacuum area which is why they are the two main competitors in the vacuum cleaning industry.
Threat of New Entrants
James Dyson began his work on vacuum cleaners in 1978
How would Hoover react to his muscling on their market?
Dyson became the market leader in the US (where Hoover was once a market leader) in 2007 as they established their business in japan and Europe.
in 1999 Hoover made a move and tried to imitate Dyson but Sir James Dyson went to court to protect his invention and he won
Bargaining Power of Customers
Dyson has always got higher price than Hoover's products.
That is why Dyson has lost many customers.
However Dyson's high price strategy keeps their image as having best products.
Hoover has cheap products which is why customers mostly buy Dyson products as they think that Dyson products are guaranteed.
Bargaining Power of Suppliers
Dyson and Hoover do many experiments for making new products.
They both need new material to make their products.
Some of the materials are difficult to find.
Once the material is found, the suppliers will then have the advantage to decide the price for the material.
Threat of substitute products