Entrants 14 Bargaining Power of Suppliers 14 Bargaining Power of Buyers (Customers) 15 Threat of Substitute Products or Services 15 Industrial Rivalry 15 Strategic Choice 16 Porter’s Generic Strategies 16 Cost Leadership 17 Cost Focus 18 Broad Differentiation 18 Differentiation Focus 19 Vision and Mission Statements 19 Strategic Implementation 21 The Product Life Cycle 21 Introduction Stage 22 Growth Stage 22 Saturation Stage 23 Decline Stage 23 The Boston