Alpha 360 competitive strategy

M inb X i L She X I De: X i Q SA( X I O htti X '5) NewTa i 9 (5)Wha e Aip' X '3' Rentals i 6 Alpha} i S MySenz l4 Blackb: i + 0' File I C:/Users/AutoLogon/DownIoads/alpha73607creatingsecosystemseventsmanagementsservicesindustryscase%20('l).pdf Alpha 360: Creating an Ecosystem in the Event Management S... 6 I 10 Competitive Strategy of Alpha 360 The competitive strategy of Alpha 360 can be analyzed using the Porter's Five Forces model. In terms of competitive rivalry, the key competitors of Alpha 360 are Biye Shamlao (a local name meaning \"manage your marriage\"), Ayojok (manager), and Event Factory. Biye Shamlao is a direct competitor particularly in the wedding market, whereas Ayojok and Event Factory compete directly in the overall event service market. Although Alpha 360 has the most web trafc among the competitors in the market, the situation may change in future if the company fails to develop more value-adding services to stay ahead of the competition. In terms of buyer power, in Bangladesh where the event management industry is still a conventional one, only a few companies have changed their perspective on making use of services through online providers (Ahmed, 2019). Most people still rely on their local ofine service providers and lack understanding on how to make good use of online platforms. Considering the number of customers and the perspective on the industry, it is safe to say that the bargaining power of customers is high in the market. Much like the customers, the suppliers of various services also lack knowledge on what online platforms mean for their businesses and how digitalization can bring new business opportunities for them. They also have a good number of customers who are still relying on them through the traditional offline process. So, it is still much more challenging for an online platform such as Alpha 360 to partner up with a large number of key suppliers for different services and from different places (Ahmed, 2019). Threats of substitutes and new entrants are also numerous. Substitutes are not only direct competitors for Alpha 360 but also businesses that follow a similar model and serve almost the same group of customers or a portion of it. Any kind of catering service, event planner, or wedding planning service, whether ofine or online, can still pose a threat as a substitute for the business. Many service providers are learning about online platforms and their potential and benets, new businesses are emerging, and people's behavior on purchasing services online is evolving. Therefore, the industry is gradually creating more opportunities for new entrants. Competitor Analysis of Alpha 360 9156 AM [1\") ENG 11/22/2022 El