COMPETITIVE PRESSURE AND CUSTOMER

21st Century is truly different in various aspects as compared to what it was previously. Businesses were run based on experience, manpower and money. This is not the case today, things have changed drastically, it’s not simply experience, manpower and money but you need to know technology well, you need to know your customer very well and not only that, but you also need to know what your competitor is doing. If you manage to keep pace with all of these, you are successful. That’s the mantra for Business Excellence today. Indian retail industry is one of the industry which is in the same boat, similar situation. All five forces suggested by Michel porter are working simultaneously. Running your business successfully and profitably and satisfying customers also at the same time is becoming more and more difficult these days. Let us consider Porter’s five forces one by one in the context of Indian Retail Industry