Online dating five forces
The industry size grew 10 percent over the last year, and Revenue is projected to grow 8 percent annually until 2011, according to Jupiter Research. Suppliers/ Buyers: Suppliers would be the guys, who are willing to 'supply' their time, energy and money on dates, movies and shopping of the girls, to get companionship in return.This strategic capability will improve the efficiency of their existing business processes and set them apart from their competitors (2015). Due to the sheer volume of people using these services, companies must always be trying to gain a competitive advantage in the marketplace. A second competitive force they face is the threat of new entrants. A new value to customers e-Harmony is developing is ‘Elevated Careers’. Their desire is to branch out, based on their research of linking compatible people, and link compatible people with enjoyable careers where they desire to stay for the long term. The online dating community is enormous, with research showing that more than 41 million people have tried online dating and the annual revenue generated from the online dating industry is greater than 1.2 billion dollars ( 2014). Online Dating Magazine estimates that there are more than 2,500 online dating services online in the U. alone, with 1,000 new online dating services opening every year. Some estimates say there are 8.000 competitors worldwide (Zwilling, 2013).
e Harmony is a non-traditional online dating firm that doesn’t just match people together like any ordinary online dating firm.
"We're seeing a migration to social-networking sites," he said.