The competitive environment of Ivey would be studied by means of Porter's 5 forces analysis which would highlight the degree of rivalry in the market.
Currently we can see that the adhesive market has a high growth potential due to the presence of fragmented sectors with Ivey delighting in leadership and a combined market share of 75% with two other market gamers, Eastman and Permabond. While industry rivalry between these players could be called 'extreme' as the consumer is not brand conscious and each of these gamers has prominence in regards to market share, the fact still remains that the industry is not filled and still has a number of market sectors which can be targeted as possible niche markets even when launching an adhesive. We can even point out the reality that sales cannibalization may be leading to industry competition in the adhesive dispenser market while the market for instantaneous adhesives offers growth potential.
Bargaining Power of Buyer: The Bargaining power of the purchaser in this industry is low especially as the buyer has low understanding about the item. While companies like Ivey have managed to train suppliers regarding adhesives, the final customer depends on suppliers. Approximately 72% of sales are made directly by manufacturers and suppliers for immediate adhesives so the buyer has a low bargaining power.
Bargaining Power of Supplier: Offered the fact that the adhesive market is controlled by three players, it could be said that the provider takes pleasure in a greater bargaining power compared to the purchaser. The truth remains that the provider does not have much impact over the buyer at this point particularly as the purchaser does not reveal brand acknowledgment or rate level of sensitivity. When it comes to the adhesive market while the purchaser and the maker do not have a major control over the real sales, this shows that the distributor has the greater power.
Threat of new entrants: The competitive environment with its low brand name commitment and the ease of entry shown by foreign Japanese rivals in the immediate adhesive market shows that the market enables ease of entry. If we look at Ivey in specific, the company has dual capabilities in terms of being a manufacturer of adhesive dispensers and instantaneous adhesives. Potential risks in devices dispensing industry are low which shows the possibility of producing brand awareness in not only instant adhesives but also in giving adhesives as none of the market gamers has managed to position itself in dual capabilities.
Hazard of Substitutes: The risk of replacements in the instantaneous adhesive market is low while the dispenser market in particular has substitutes like Glumetic pointer applicators, inbuilt applicators, pencil applicators and advanced consoles. The reality stays that if Ivey introduced Bond-A-Matic, it would be delighting in sales cannibalization for its own items. (see appendix 1 for framework).
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