The elements in Porter's Five Forces model include the possibility of new rivals, possible product substitutions, bargaining powers of buyer and of suppliers, and rivalry between competitors.

Question

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Porter's Five Forces model indeed consists of the threat of new entrants, the threat of substitute products or services, the bargaining power of customers (buyers), the bargaining power of suppliers, and the intensity of competitive rivalry. These forces are used to analyze an industry's structure and competitiveness.

The Elements in Porter's Five Forces Model Include the Possibility