This article is part of a series on strategic models:
Porter's 5 forces is a tool used to analyze the competition of a business or industry. Use it to describe the existing marketplace and what alternative solutions might be available. Leverage from partners or buyers to help you better understand your existing market or to help you to assess the markets you are considering entering.
Want to start in a whiteboard? Use the Porter's 5 forces to collaborate with your team, then move your model into your Aha! account.
To create a Porter's 5 forces model, navigate to Strategy → Models, click Add model, and then select Porter's 5 forces from the Example templates.
You can always customize strategic models to your needs. The standard fields in this model are:
Buyer power: How big is the market and what power do buyers have?
Alternative solutions: What alternative ways can your customers solve their challenges?
Existing competitors: How many competitors are there and how strong are they?
New rivals: How easy or hard is it for new vendors to enter the market?
Partner leverage: Are you dependent on partners, and if yes, how much leverage do they have?