Which of the following is true regarding the impact of the Internet on Porter's Five Forces affecting industry competition?
A) Internet increases barriers to entry
B) Internet decreases bargaining power of suppliers
C) Internet shifts power away from end customers
D) Internet cuts down on substitute product threats
E) Internet blurs differences among competitors

Question

Quizplus · Accepted Answer

The internet has made it easier for companies to enter the industry, reducing barriers to entry, and customers have more bargaining power as they can easily compare prices and products across multiple companies. However, the internet has also caused a blurring of differences among competitors, making it harder for companies to differentiate themselves based on traditional factors such as price or quality. This has shifted the competition from a traditional Five Forces framework to a more dynamic and constantly evolving one.

Which of the Following Is True Regarding the Impact of the Internet