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A new, independently owned Italian restaurant has opened in a town that currently has 2 other Italian style restaurants, both franchise establishments. The owner knows
A new, independently owned Italian restaurant has opened in a town that currently has other Italian style restaurants, both franchise establishments. The owner knows that if his business receives great reviews in its first few years of being open, he will have the ability to raise prices higher than competitors because of its distinguished food and service. However, because the
Threat of substitute productsservices
Bargaining power of buyers
Bargaining power of suppliers
Competitive rivalry
People over profit
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