Here’s a novel metaphor for Porter’s Five Forces to help you analyze your market.
In this case, the market for eating burgers off the grill at your neighbor’s party:
🏡 The amount of people at your neighbor’s house who want a burger at the cookout = Competition
🚪Your neighbor choosing how many people they let in = Customer Power
🚗The average distance everyone has to drive to get to your neighbor’s front door = Threat of New Entrants
🍔The meat company who makes the burgers = Supplier Power
🚛The delivery driver who was in the neighborhood and was welcomed into the house = Threat of Substitutes
I’d say your neighbor has almost all of the power in this market. What do you think?
