High product differentiation among vendors further intensifies the competition in the market. Understanding the prisoners dilemma model is useful.
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Bargaining power of suppliers.
. Rivalry among existing competitors. The rivalry among vendors is intense which poses a risk to their operations. Whenever you make choices with respect to your customers business or final consumers you need to be aware how your competition changes as a function of your decisions.
The telematics market share in the insurance industry is fragmented characterized by the presence of a few large medium and small-scale vendors. Bargaining power of buyer. Threat of substitutes.
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