Footwear Industry in US – Porter’s Five Forces Strategy Analysis
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||The global footwear industry runs in parallel with changing fashion, designs and materials. Footwear has undergone a complete
|Date of Report
||Nov 6, 2011
The global footwear industry runs in parallel with changing fashion, designs and materials. Footwear has undergone a complete reversal, from being a utility product to a hardcore fashion product. Leading players have to make continuous changes in terms of designs, styles, material used, in all the offerings.
There is a need to provide innovative solutions in the US Footwear Industry to remain competitive and retain customers. Manufacturers have to make products that match both fashion and utility requirements of the customers. Comfort is a very important factor in the industry. Cost is also a significant factor for ensuring success.
Aruvian's R'search analyzes The Footwear Industry in US in Michael Porter’s Five Forces Analysis. It uses concepts developed in Industrial Organization (IO) economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market. Porter referred to these forces as the microenvironment, to contrast it with the more general term macro-environment. They consist of those forces close to a company that affect its ability to serve its customers and make a profit. A change in any of the forces normally requires a company to re-assess the marketplace.