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1 What is competition like in the value added seafood industry What competitive force seems to have the greatest effect on industry attractiveness from the standpoint of packaged seafood producers The competition in the value added seafood industry and the industry attractiveness can be evaluated by the Porters five force model I Barriers to Entry Economies of Scale Strong New firms entering into the industry have to compete against the big players in the market as the cost of production of the existing companies would be lower as compared with a new company Capital Requirement Strong Due to the nature of the industry ie products are perishable and the risk involved the new business should have a strong capital supporting business II Bargaining Power of Suppliers Number of Suppliers Strong There is a large number of suppliers supplying similar products thus they dont have much bargaining power III Bargaining Power of Buyers Substitutes Strong There are large numbers of products to choose from a consumer perspective as a result giving them a higher bargaining power IV Substitute Switching Cost Strong Since there are a large numbers of similar products available there is a low switching cost for the customer V Intensity of Rivalry Numerous Competitors Strong There is strong competition in the market as the industry is highly fragmented Exit Barrier Weak As there are competitor in the market the machinery used in the production could be sold easily making exit procedure easier Overall the competition in the value added seafood industry is strong as the industry is fragmented and consumers have high bargaining power Industry Attractiveness Increasing number of people eating out and further increase predicted Existing food distributors taking logistic pressure off the company and giving wider national coverage Large number of suppliers in the market giving the company greater bargaining power Low exit barriers 2 What are Azaleas key resource strengths
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