Porter Five Force Model Assignment

Added on - 05 Oct 2020

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PORTER forces-wirelesscharger for electric vehicles
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Threat of Substitutes...................................................................................................................1Threat of new entrances..............................................................................................................1Bargaining power of buyers........................................................................................................1Bargaining power of suppliers....................................................................................................2Rivalry.........................................................................................................................................2CONCLUSION................................................................................................................................2REFERENCES................................................................................................................................3
INTRODUCTIONPorter Five forces model can be applied to know various elements related to threats,bargaining powers and existing rivalry. The model can be applicable to any organization orproducts. The report will design and apply Porter Five Force Model for wireless chargers forelectric cars. Wireless charging systems are the innovative discovery for facilitating electricvehicles. There are number of factors related to it that can be assessed by Porter's Five ForcesModel.MAIN BODYThreat of SubstitutesThreat of substitutes are low as different electric vehicles uses different charging systemssuitable to its battery system and requirements (Tavakoli and Pantic, 2018). The products of“Qualcomm Halo” cannot be replaced by Formula race cars. Similarly, “Plugless” companydesign its wireless charging systems for specified electric vehicles only. This is one of the issuesrelated to the wireless charging modules that restricts customers to opt for another substitute.Threat of new entrancesNew and advanced electric chargers are being manufactured according to the internalsystem of electric vehicles. This has provided sufficient options to users for opting and exploringvariant options. So the threat for new entrance will be comparatively low as need for investmentis high which means that it require higher amount of money to be invested for production ofwireless car charging devices (Ismail, 2017). So probably the threat of any new comers intomarket with the product like that of wireless charger for electric vehicle is low only. But asmentioned the wireless charger in car will be working same as that of wireless phone charger sothe existing manufactures could introduce them as well into market.Bargaining power of buyersThough there are number of manufacturers developing chargers for EV, but still buyersdo not have enough trustworthy or tested options. Therefore, bargaining power in terms ofcharging electric vehicle persists at moderate level (Hardman, Kinnear and Plötz, 2018). Thecustomers are opting for best quality of product as the demand for the same is meant to increasein near future. It was also determined by manufacturers that the consumers are also ready to paypremium price for the product.1
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