The five forces model recognises that both suppliers and customers can become a firm's competitors.

Name: The five forces model recognises that both suppliers and customers can become a firm's competitors.
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Question

Quizplus · Accepted Answer

The five forces model identifies the potential threat of new entrants, substitute products, bargaining power of suppliers and customers, and competitive rivalry within the industry. In this model, both suppliers and customers can have bargaining power and become competitors of the firm.

The Five Forces Model Recognises That Both Suppliers and Customers