John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, televisions and many other electronic products. John and his executive team are meeting to brainstorm new ideas on how to grow the business. One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry. After performing a Porter's Five Forces analysis John determines that all of the forces are high in this new industry. What should John do?

Question

Computers and Technology

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2 September, 06:57

John Cleaver is the CEO of Tech World, which is a retail store that sells computers, monitors, cameras, televisions and many other electronic products. John and his executive team are meeting to brainstorm new ideas on how to grow the business. One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry. After performing a Porter's Five Forces analysis John determines that all of the forces are high in this new industry. What should John do?

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Kendrick Garcia · Answer 1

not introduce the product

Explanation:

Based on the information provided within the question it can be said that in this scenario the best thing for John to do would be to not introduce the product. This is mainly due to the fact that all of the Five Forces are strong therefore this would be an extremely highly risky business strategy that may lead to massive losses.