1-8.3 Example of Relevant Cost Component Areas Analysis Lowering the purchase cost can be achieved by performing a market analysis. The analysis helps to illustrate: Trends. Competitive frameworks. Substitutes. Possible suppliers. Strategies for success. A relevant cost component areas analysis can include: Market cycle studies and⁄or business cycles studies. ESI. Products or services examination from multiple perspectives. Porter’s 5 Forces. Strengths, weaknesses, opportunities, and threats (SWOT) analysis. Additional information on conducting ESI can be found in Section 1-6, Involve Suppliers Early.