The entrance of Airbnb into the hospitality short stay vacation will be attractive but there are some market threats that need to be effectively managed.
What is the Porter's Five forces?
These forces are economic force that determines the competitive intensity and attractiveness of a market.
According to Porter, the Five forces in the every market includes::
- threat of new market players,
- threat of substitute products,
- power of customers,
- power of suppliers,
- industry rivalry
In conclusion, the hospitality firm needs to evalute the forces to understand the industry structure and to determine the best corporate strategy for its operation.
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