Enterprise and business development Essay Example | Topics and Well Written Essays - 500 words

Enterprise and business development - Essay Example Firestarter considers the supplier dynamics and aims at positioning itself in a position of relative advantage in a bid to maintain or increase its customer base. Supplier will become powerful if they are few and there is a heavy need for them to facilitate the main processes (Porter, 2008). The buyer power is a consideration that the competitive players in the food industry consider. The buyers have the ability to drive the prices down thus influencing the ability of firms such as Firestarter to dictate pricing terms. The number of buyers in the specific market ventured by Firestarter and other listed competitors, the switching cost of a buyer and importance of that buyer to the enterprise influence the model of strategic planning on pricing so as to keep at bay with the competition. Firestarter may be able to dictate prices if the cost of switching to the other suppliers is high and the presence of few powerful buyers. The capabilities of the competitors in this context, KFC, Costa, Dunkin Donuts, Starbucks and Muzz Buzz form a competition rivalry. It is through differentiation of products and services more than the other that one individual farm can achieve an advantage. For the case of Firestarter, offering a variety of products that are differentiated at better prices will make it have an edge over the competitors in the niche by achieving market attractiveness to the consumers in the U.K. Entering a new market poses threat especially in the event of high costs and time in entering the market (Porter, 2008). To be protected against compromising of a favorable competitive position, enterprises such as Firestarter ought to have economies of scale in the market and have protection of their innovations in products and services. This is a key consideration to be employed by Firestarter to protect itself from new entrants such as Muzz Buzz. Maintaining of durable and solid barriers to entry such as a strong and loyal base of consumers,