These factors fall into political, economical, social and technological groups Pearce, Robinson, Political factors affecting music business in whole and CCM in particular: Environmental regulations and employment requirement do not affect business CCM is engaged into.
Relatively few competitors Carnival Cruise Lines Few competitors mean fewer firms are competing for the same customers and resources, which is a Bargaining Power of Suppliers Large number of substitute inputs Carnival Cruise Lines When there are a large number of substitute inputs, suppliers have less bargaining leverage over High competition among suppliers Carnival Cruise Lines High levels of competition among suppliers acts to reduce prices to producers.
This is a positive Diverse distribution channel Carnival Cruise Lines The more diverse distribution channels become the less bargaining power a single distributor will Volume is critical to suppliers Carnival Cruise Lines When suppliers are reliant on high volumes, they have less bargaining power, because a producer can Threat of Substitutes Substantial product differentiation Carnival Cruise Lines When products and services are very different, customers are less likely to find comparable product Limited number of substitutes Carnival Cruise Lines A limited number of substitutes mean that customers cannot easily find other products or services Bargaining Power of Customers Product is important to customer Carnival Cruise Lines When customers cherish particular products they end up paying more for that one product.
Large number of customers Carnival Cruise Lines When there are large numbers of customers, no one customer tends to have bargaining leverage When companies need to spend resources building a brand, Advanced technologies are required Carnival Cruise Lines Advanced technologies make it difficult for new competitors to enter the market because they have to Industry requires economies of scale Carnival Cruise Lines Economies of scale help producers to lower their cost by producing the next unit of output at lower High capital requirements Carnival Cruise Lines High capital requirements mean a company must spend a lot of money in order to compete in the Entry barriers are high Carnival Cruise Lines When barriers are high, it is more difficult for new competitors to enter the market.
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