The Five Forces is a framework developed by Harvard Business School professor Michael Porter

 The Five Forces is a framework developed by Harvard Business School professor Michael Porter in 1979. Although quite old, it is still very relevant and powerful too. The framework is designed to help organizations understand the competitive forces at play in their industry. It identifies five forces that determine the level of competition in an industry. The forces are:

The intensity of the competition in the industry

The threat of new entrants in the industry

The threat of a substitute product

The power of suppliers

The power of buyers

I believe that Porter’s Five Forces is a handy competitive analysis model that you should add to your PM toolbox.

This framework is a straightforward approach to thinking through the competitive landscape that your product — and your organization — operate in. It will help you understand your position within this landscape. When working on a product strategy, it is easy to overlook the influence of your competitors on your chances of winning.

By Florian Wahl

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