Porter's five forces are the model that is used for the identification and analysis of the five competitive forces that shape and define every industry and determine the strengths and weaknesses. So five forces model is frequently used to identify the industry structure to craft the strategy
It is a model that can be applied to any segment of the economy for understanding the competition and how some factors can contribute to the long-term profitability of the company. So there are basically five forces that are studied which are called as Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes and Intense rivalry
This question talks about the bargaining power of competing sellers which refers to the number of competitors and their ability to influence the market.
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