In 2006, due to the recession, they had a market share of roughly 30% in state. In 2014 it rebounded (after the recession) to 40% of the market. The Har-Tru company is based in Lakewood, New Jersey and currently has 85% to 90% of the market share for clay tennis courts. The Sunnyside Granite Company is based in Richmond, Virginia. When Luck industries grew they purchased other operational locations including one in North Carolina and seven locations in Virginia from 1965-1996. The trends of demographics and the number of people living in Virginia. The population of Virginia in 1960 was just under 4 million people. In 1996 there were just under 7 million residents in the state of Virginia. The increase in population is one demographic that shows how much of a need for Luck stone’s …show more content…
To startup a business in the stone industry is expensive to start but once you get started it can be easy to imitate what Luck Stone has built.
Bargaining Power of Suppliers:
According to the case study suppliers should be close to the location of where they are supplying the products. The further the distance the more expensive it is going to be to ship the stone. There is low risk to a threat with competitors in this product since Luck Company has bought most of the stone quarries in the area.
Bargaining power of Buyers:
The buyer will have many options of who they want to buy their stone from. If they want quality of a product they will buy it from Luck Company. If they want
Threat of substitute products:
There is not that great of risk of a substitute to stone. There are many companies that can produce stone but there is no way they can copy stone. In the other industries that Stone Company has bough there can be substitute company is the ecosystem company. Also, in the Har-Tru company there is little risk to a substitute product unless technology invents some way to produce these products. The risk of a substitute product is