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Term Paper sample - Industry analysis. Parking services.
Pages 3 (753 words)
Industry analysis. Parking services.
Venmo that is an application founded in the year 2009 that allows people to transfer cash to each other and also transfer cash into a bank account. These online applications allows the industry improve on its operations and be more efficient and serve the customers better…
QPark is focused at going international after ensuring that it meets the needs of its customers in the Philadelphia market. In order to ensure that it is ready to meet the diversified needs of global customers, QPark will rely on Porter 5 model that deals with five forces which include bargaining supplier power, competitive rivalry, bargaining power of buyers, threat of new entry and threat of substitution. By analyzing each of the Porters aspects, QPark will have the ability to face off its competitors while at the same time maintaining loyalty and trust among all the stakeholders. On supplier power, for instance QPark will access how easily the suppliers will drive up our prices in the market. Another major aspect covered by Porter is competitive rivalry. In order to be successful in Philadelphia market, we will undertake a SWOT (strengths, weaknesses, opportunities and threats) analysis to determine our position in the market. It is vital to note that there is no high level of rivalry that QPark will face in the Philadelphia market. However, in a scenarios where we face large number of competitors and where they offer similar products most likely we will have less power since buyers and suppliers will have more alternatives. ...
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