The Cosmetic Surgery Industry in the UK Essay
In 2011, 15 million people had cosmetic surgery worldwide. In the UK alone, a total of 43,172 surgical procedures were carried out and (Sedghi, A, 2013) it is an industry …show more content…
Michael Porters 5 forces can be used to see how possible it would be for a new company to enter the cosmetic surgery market within the UK:
Intensity of rivalry: There are over 200 registered plastic surgery organisations operating within the UK alone, and within these, they offer a wide range of distinct and specialised procedures. The majority of strategic competitors are members of the BAAPS (The British Association of Aesthetic Plastic Surgeons) which means they are certified surgeons; BAAPS can also be used as a platform by clients to search for the relevant organisation (Baaps.org.uk, 2014). These factors all conclude that intensity of rivalry is high, especially when considering that the number of surgery’s is quite considerable in comparison to the demand by consumers.
Threat of new entrants: Many organizations that currently operate within the UK have been established and built a reputation over time; they also encourage brand loyalty and repeat custom. Consumers who are looking for plastic surgery will often go to somewhere that has previously been used by a friends or family member. Furthermore, most consumers look for a BAAPS certified practitioner, and it takes a long time to get processed and accepted for this. It