Music Festival
Porter’s five forces analysis. The musicians who conduct music festivals have a high bargaining power. Their music is unique and the tickets are fixed in price hence the price cannot be adjusted due to bargain. The industry is therefore attractive in that the uniqueness of industry makes it possible for the owners to have high market power. The consumers have very low market power. There are no instances when the prices of tickets can be lowered to favor some customers. As a result, the industry is assured of a certain amount if revenues when the festivals are attended. ...
