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Porter's Five Forces: New Lights for Classic Styles ( 3 ) Industry Background Industry Background Here's some background research I gathered about our proposal and

Porter's Five Forces: New Lights for Classic Styles (3) Industry Background Industry Background Here's some background research I gathered about our proposal and some information on the lighting industry in Industry Background Facts Industry is projected to grow at \(1.5\%/\) year for the next few years general. Lighting fixtures industry is roughly \(\$ 4\) billion worldwide Manufacturing - Mostly smaller manufacturers - Few, if any, manufacturers have a recognized brand - Popular designs are rapidly copied - Patents offer little protection - Technology for internet-connected smart fixtures is growing slowly - Creating specialized production lines is necessary Distribution Channels - Many smaller manufacturers sell directly through large retailers such as Home Depot, Target, and Walmart - Some retailers offer their own private label brands - Large manufacturers sell directly through their websites (as well as through retail)- Individuals often compare prices across all channels before making a purchase Suppliers - Primary materials are commodities like metal, wood, plastic, and glass - Most manufacturers use a wide variety of suppliers for these commodities - Each commodity has a large number of suppliers from which to choose Startup Process - An efficient factory can cost between \(\$ 15-50\) million dollars - Outsourced manufacturing can reduce initial costs for a niche player to less than \(\$ 100,000\)- The regulations are simple and straightforward for lighting fixtures - Marketing expenditures can be controlled through targeted ads

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