Create a 5 pages page paper that discusses analysis of the it industry. While these new players entering the industry may lead to a decrease in the profitability of the existing firms as the supply of the product increases along with the total market share. It will affect the price of the product, customer loyalty, etc. The existing firms always try to create certain barriers to the entry of new firms There are several factors that act as barriers to entry, and these seem to have a competitive advantage for all firms existing in the industry. These factors are constraints for new firms to start their operation.
The threat from substitute products only when there is a complimentary product, in case of marble industry tiles, wooden tiles should be used
From the above-mentioned factors, only one factor acts as a threat from substitutes, the switching cost for a consumer or dealer. For changing to the alternative customer pricing plan and incurring high switching costs.
The innovative strategy in the IT industry is highly beneficial for a company in gaining a competitive advantage over other firms The various ways they can make use of are coming up with unique and innovative products or services in the market. The new innovations in the IT field have paved the way for many technological advancements in various organizations, and this helps to get the organizations to diminish the price of the products and the services and charge average affordable prices for the buyers.
even begin to imagine a life without them. The goal of these various systems is to make the most effective and efficient bondage between customers and the clients of these firms. They also contribute to the extended long term relationship between the customers and the clients.
As a different strategy, the organizations try their level best to make their products different from that of competitors The Apple Inc for example accounts for a different identity in the manufacturing industry with the different and unique look each of its products has as well as the ease to handle and use them.
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