To analyze market competitiveness, entrepreneurs can use various tools and frameworks. Key methods include:
1. Porter's Five Forces: This model helps assess the competitive forces that impact an industry, including the threat of new entrants, bargaining power of suppliers and buyers, threat of substitute products, and industry rivalry. 2. SWOT Analysis: This tool helps identify the strengths, weaknesses, opportunities, and threats related to a business or market. 3. PEST Analysis: This framework examines the political, economic, social, and technological factors that influence market competitiveness.