<p align="justify">The Porter’s five forces Analysis is the tool formed by Michael Porter, to examine the strengths of five major forces which govern the competition level in the industry. This model examines the competition level in the industry among main leading companies and considers other four factors which affect the company’s success and industry; bargaining power of buyers, bargaining power of suppliers, threats of new entrants, and threats from substitute products (Kenton, 2019).</p>
<p align="justify">JPMorgan Chase is the major global financial services and bank holding company. It is known as the “universal banking company” which provides retail, investment and commercial banking services. There are 4 principal money-centered banks in United States, which are; Citigroup, Bank of America, Wells Fargo and JPMorgan Chase. It is ranked amongst the top ten global banks in terms of $2.3 trillion assets. Its stock’s market cap-value is $210 billion (Maverick, 2018). It has many subsidiaries engaged in four major areas of the company’s financial enterprise; investment and corporate banking, asset management, commercial banking and retail banking. JPMorgan also offers other services like private banking, foreign exchange, fund administration, treasury services, and credit letters for international and domestic payments (JPMorgan, 2019). ; 
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<h2 align="justify">Bargaining Power of Buyers:</h2>
<p align="justify">Industry is greatly influenced by the bargaining power of buyers. Individual customers, mainly in retail banking have less bargaining power because bottom line of JPMorgan has minimal impact due to the loss of any account. However, aggregately, buyers have strong bargaining power because bank is not able to afford the depositors’ mass defections. HNWI- High net worth individual and Corporate clients have high bargaining power because loss of accounts (sizable) and revenue source affect the profitability level of bank. JPMorgan offers extending services to clients and continually struggles to convince consumers to open more accounts and use other services. This increases the switching cost for consumers for transferring funds into other banks (Fernfort, 2019). 
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<h2 align="justify">Bargaining Power of Suppliers:</h2>
<p align="justify">There are two major suppliers of bank; depositor- the one who supply primary capital resources, and the employees- those who are the labours. For depositors, situation is same as delineated under bargaining power of buyers. Individual depositors have low bargaining power other than HNWI depositors, otherwise, aggregately, they have considerable bargaining power. The approach of JPMorgan is simple, to work hard and attract new customers, and increasing the existing depositors holding funds, and offering more services. For labours, individual suppliers do not have more power as compare to executive employees. JPMorgan offers attractive salary and non-monetary packages for retaining employees (Maverick, 2018).
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<h2 align="justify">Threats of New Entrants</h2>
<p align="justify">Threats of new entries in the industry has significantly little force, as any new company competing directly with JPMorgan on the same level or other money-centred banks of US will face immense difficulties. The main element to compete in this industry is the huge amount of capital, time to buil the brand identity and cumbersome and numerous government rules and regulations for operating as a bank (Fernfort, 2019). 
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<h2 align="justify">Threats from the Substitute Products</h2>
<p align="justify">Threats of substitute products are high in banking industry, because the companies of other industries have now started offering financial services which were traditionally available only from banks. For example, transfer services and payment processing like Apple Pay, PayPal, online lenders peer-to-peer and debit cards like lendingClub.com, Prosper.com etc. These substitute services brought huge cost to JPMorgan and many other banks revenue. However, it has reacted to this and took initiative which include Chase Pay, lending small division businesses, and offered services of digital wallet (BlueOcean, 2019).
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<h2 align="justify">Rivalry of Existing Players</h2>
<p align="justify">Rivalry among the existing companies in the industry is an important factor of the Porter’s five forces model. JPMorgan Chase faces immense competition both internationally and domestically, internationally from multinational banks like Barclays, and HSBC; and domestically from other three money-centred banks- Banks of America, Citigroup and Wells Fargo. JPMorgan faces the tough industry rivalry in three ways. It usually acquires small banks to remove the potential competition from the industry. It always aims to offer cutting-edge services, low cost and services according to the customer convenience. It distinguishes itself from its competitors in terms of experience and recognized heritage (Maverick, 2018). 
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<h2 align="justify">References:</h2>
<p>Blue Ocean, 2019. JPMorgan Chase &; Co Pf ADR Porter Five (5) Forces Analysis. [Online], Available at: <a href="http://blueoceanuniversity.com/frontpage/portercoanalysis/29473-jpmorgan-chase---co-pf-a">http://blueoceanuniversity.com/frontpage/portercoanalysis/29473-jpmorgan-chase&#8212;co-pf-a</a>, [Accessed on: 18th March, 2019].<br />
Fernfort university, 2019. JPMorgan Chase &; Co. Porter Five Forces Analysis. [Online], Available at: <a href="http://fernfortuniversity.com/term-papers/porter5/analysis/1046-jpmorgan-chase---co-.php">http://fernfortuniversity.com/term-papers/porter5/analysis/1046-jpmorgan-chase&#8212;co-.php</a>, [Accessed on: 18th March, 2019]. <br />
JPMorgan, 2019. About us. [Online], Available at: <a href="https://www.jpmorgan.com/country/PK/EN/what-we-do">https://www.jpmorgan.com/country/PK/EN/what-we-do</a>, [Accessed on: 18th March, 2019].<br />
Kenton, W. 2019. Porter&#8217;s 5 Forces. [Online], Available at: <a href="https://www.investopedia.com/terms/p/porter.asp">https://www.investopedia.com/terms/p/porter.asp</a>, [Accessed on: 18th March, 2019].<br />
Maverick, J. 2018. Analyzing Porter&#8217;s Five Forces on JPMorgan (JPM). [Online], Available at: <a href="https://www.investopedia.com/articles/markets/020916/analyzing-porters-five-forces-jpmorgan-chase-jpm.asp">https://www.investopedia.com/articles/markets/020916/analyzing-porters-five-forces-jpmorgan-chase-jpm.asp</a>, [Accessed on: 18th March, 2019]. </p>