Porter’s Five Forces Diagram
Below you will find my five forces diagram.
ParadigmStar porter’sfiveforcesdiagram
The conclusion of my research would indicate that I should not pursue a business in the alcohol production. No matter if I were to increase my marketing campaign or produce the best tasting liqueur the power and influence of my supplier and customer is extremely high. However I will not be in the alcoholic production business to make a profit I will be in the business to produce a product that I can share with family and friends.
Toochikwu,
I can respect your wanting to create a hand crafted product for your friends and family. There are several products in the market place that started with the same premise. However, quality of product shared via word of mouth advertising have given these products an opportunity to enter the market place as a viable commodity.
While you may feel it is not advisable to enter the market place, would you consider it if your product grew demand outside your family?
Nice work,
Ray