Porter's Five Forces Analysis - Problem Solving Techniques from Mind Tools. Assessing the Balance of Power in a Business Situation Assess the balance of power in a business situation, with James Manktelow & Amy Carlson. The Porter's Five Forces tool is a simple but powerful tool for understanding where power lies in a business situation. This is useful, because it helps you understand both the strength of your current competitive position, and the strength of a position you're considering moving into. With a clear understanding of where power lies, you can take fair advantage of a situation of strength, improve a situation of weakness, and avoid taking wrong steps. This makes it an important part of your planning toolkit. Conventionally, the tool is used to identify whether new products, services or businesses have the potential to be profitable.
However it can be very illuminating when used to understand the balance of power in other situations. Understanding the Tool Supplier Power: Here you assess how easy it is for suppliers to drive up prices. Using the Tool. 86-102: Point-of-Purchase Behavior and Price Perceptions of Supermarket Shoppers. Breakthrough? Stores May Be Able To Measure POP Display Impact. 70% of purchasing decisions are made in-store- Brand Equity-Features-The Economic Times. Nicola Clark, Dec 10, 2008, 04.08am IST Any marketer worth their salt will have heard numerous times that 70% of purchasing decisions are made in-store — it is a well-worn marketing truism. Many, however, either don't believe it, but do absolutely nothing about it.
Exclusive research from OgilvyAction, gleaned from 14,000 shopper interviews in 700 retail outlets across 24 territories, confirms that purchasing decisions are not only still primarily made in store, but also that one in 10 shoppers leaves a product they planned to buy on the shelf and walks away empty-handed . Steve Harding, chief executive, Europe, at OgilvyAction, says that point-of-sale is "the ultimate moment of truth for brands today" , and that it is crucial that they understand exactly what drives shopper decisions. While many marketers base their strategies on US research, OgilvyAction's study showed key differences between shopper habits in the US and the UK.
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