注会综合阶段英语水平提升班——第四单元2

Threat of new entrants

行业新进入者的威胁

New entrants into a market will bring extra capacity（生产能力） and intensify competition（使竞争激烈）. The threat from new entrants will depend upon the strength of the barriers to entry（进入壁垒）and the likely response of existing competitors to a new entrant.

l Economy of scale（规模经济）

l Customer （or brand ）loyalty （客户忠诚度）

l Capital requirements（资本要求）

l Switching cost（转换成本）

l Access to distribution channels（销售渠道的取得）

l Cost advantages of existing producers（现存生产者的成本优势）

l Know-how（专业知识）

l Regulation(法规)

Threat of substitute products

替代品的威胁

This threat is across industries （跨行业）（e.g. rail travel versus bus travel versus private car[size=10.5000pt]） or within an industry [size=10.5000pt]（e.g. long life milk as a substitute for delivered fresh milk.

Bargaining power of customers

购买商的议价能力

Powerful customers can force price cuts and/or quality improvements. Either way, margins（利润） are eroded. Bargaining power is high when a combination of factors arises:

l A buyer’s purchases are a high proportion of the supplier’s total business or represent a high proportion of total trade in that market（购买方从卖方购买的产品占卖方销售量很大比例）

l A buyer makes a low profit  (购买方利润低)

l The quality of purchases is unimportant or delivery timing is irrelevant, and prices will be forced down.（购买产品的质量不重要，交货期无关，价格就会压低）

l There are similar alternative products available from other suppliers.（存在相似的其他产品）

Bargaining power of suppliers

供应商的议价能力

The power of suppliers to charge higher prices will be influenced by the following:

l The degree to which switching costs apply and substitutes are available (转换成本以及是否存在替代品)

l The presence of one or two dominant suppliers controlling prices

（存在一个或两个控制价格的主要供应商）

l The extent to which products offered have a uniqueness of brand, technical performance or design not available elsewhere.

（所提供的产品具有独一无二的品牌，技术性能或设计）

Competition/rivalry

同业竞争

Intensity of existing competition will depend on the following factors:

l Number and relative strength of competitors.（竞争者的数量和相对的强度）

l Rate of growth.（发展速度）

l Where high fixed costs are involved companies will cut prices to marginal cost levels to protect volume, and drive weaker competitors out of the market.（行业固定成本高，企业寻求保护产量而降低价格到边际成本，会导致弱势竞争者被挤出市场）

l If buyers can switch easily between suppliers the competition is keen. If the exit barrier （i.e. the cost incurred in leaving the market） is high, companies will hang on until forced out, thereby increasing competition and depressing profit.（产品转换成本，产品缺乏差异性或具标准化，购买商轻易转换供应商，加剧竞争；退出壁垒高，使现有供应商难以退出某行业的障碍会令同业的竞争激烈化）