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...Porter s five forces model competitive threat of new entrants bargaining power the inter firm suppliers rivalry buyers substitutes porters areas microeconomics supply and demand theory cost production price elasticity customer behavior market structures number players size growth rates substitution effects entry barriers industry profitability supernormal profits attractiveness what is it trying to communicate how can be used by strategic managers who are factors impacting standardized product purchases made in large volume small significant backward integration switching costs low strong medium weak well informed about seller represents a purchaser final few unique or input forward supplied less expensive for buy than make...