EBK CONTEMPORARY MARKETING
18th Edition
ISBN: 9780357158951
Author: Kurtz
Publisher: VST
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Chapter 2.3, Problem 1LO
Summary Introduction
To discuss: The competitive forces of Person P five forces model
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Identify the six forces that shape competition in an industry. Describe how changes in the strength of these forces affect prices, profitability, and under which circumstances each can be considered a threat or opportunity. Why is a competitive analysis using the competitive forces framework a benefit to industry?
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How do the five competitive forces in Porter’s five forces model affect the average profitability of the industry? For example, in what way might weak forces increase industry profits, and in what way do strong forces reduce industry profits? Identify an industry in which many of the competitors seem to be having financial performance problems. Which of the five forces seem to be strongest?
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EBK CONTEMPORARY MARKETING
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