When analyzing the industry, Bella Blooms must be concerned about the threat of substitute products or services.
This is one of the threats proposed by Porter in his model of the 5 forces that help to understand market competitiveness.
Bella Blooms must be concerned about the threat of substitute products or services because another fertilizer manufacturer has emerged with the same target market as the company, which could lead to a decrease in Bella Blooms market share.
In the threat of substitute products or services, the customer realizes that they can partially or totally substitute one product for another, which leads companies to actions such as:
Therefore, Porter's 5 forces model guarantees that through the analysis of market factors, it is possible to identify its strengths and weaknesses and adapt its strategy to be competitive and profitable in the market.
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