Assignment Case Study Example | Topics and Well Written Essays - 250 words - 2

Assignment - Case Study Example already established is growing as the rate of competition goes high with the example of Mini-mills taking over and setting a price war in the industry. There is also an increase of foreign companies taking the market shares. The third force is the bargaining power that suppliers have. The suppliers are decreasing due to bankruptcy thus; the number of suppliers is low. Few suppliers makes the services that the industry offers to be the same and not unique in any way (Steel Industry Profile, 2013). The fourth force is the buyer’s bargaining power and the number of customers is high. When the number of customers is high then the supply price becomes sensitive. The costs that customers have to go through to switch to a differential product are relatively low. The fifth force is a threat to the substitutes where the prices of switching to substitutes is high and thus the companies must adjust their prices so that they are able to compete with plastics, composites, and aluminum which are