What is it?
A workshop to help you improve your competitive position in the market.
Why is it useful?
- It helps you make informed decisions, identify areas for improvement, and position yourself as a force in the market.
- Explore threats from substitute products or services, established rivals, and newcomers.
- Dive into vertical challenges like bargaining power with suppliers and customers alike.
Objective
To help your organisation improve their competitive position in the market.
Process
Step 1: Choose your market
- Jot your chosen market down on a vibrant Post-it note and place it right in the center of the table. Draw Porter's 5 Forces around it.
Step 2: Describe the current situation
- Split into smaller groups, each assigned to tackle one force head-on. Hand each group their Force Description (included in this download).
- Give each group a few minutes to read their card and for the people to think silently to themselves.
- What does the current situation look like for this specific area?
- Write down all insights on Post-it notes, placing them within their corresponding force.
Step 3: Share & build consensus
- Come together as a whole group again and share what you've uncovered.
- Together, evaluate which Post-it notes capture the essence of our current reality best. Achieve a unified understanding.
- After reaching consensus, you now have an overview of the current market situation using the 5 Porter forces framework.
Secret Sauce
- You don't need to have the best product in the market or be part of a long-established business to be successful. Especially at the start.
- Get a deep understanding of your competitive landscape and opportunities will appear.