| Force |
Force Strength |
Reasoning |
Profitability/Response |
| Bargaining power of Customers |
High |
There is not a variety of insurances accepted, and depending on the insurance, it will cover for short-term or long-term of the services. |
To be more profitable. Preffered Care at Wall must accept more types of insurances tp provide affordability to its patients. |
| Threat of Substitutions |
Medium |
Other nearby nursing homes do not offer as many services as Preferred Care at Wall. |
To keep being profitable and address this threat, Preferred Care at Wall must ensure to keep offering differentiating services.
|
| Bargaining Power of Suppliers |
Medium |
There are only some suppliers in the market. |
If a manufacturer increases the cost, then Preferred Care at Wall will purchase from another supplier to keep the profitability of the company. |
| Threats of New Entrants |
Medium |
New Nursing homes are being opened offering similar services. |
Offering differentiating services with high quality, and good customer service to the patients will help to address this. |
| Rivalry |
High |
There are 369 other nursing homes in New Jersey that are competitors, specifically those located nearby, such as SunnySide Manor. |
Preferred Care at Wall offers a high quality service to its patients to weaken this threat and be more profitable. |
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