Discuss the competitive forces model ( figure2.2) with reference to what you know about the U.S beer industry (see the opening case.) what does the model tell you about the level of competition in this industy?
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Explanation:
The competitive forces model is a framework for industry analysis and business strategy development. It describes the five forces which determine the competitiveness of the market. This framework was established by Michael E. Porter. It is also known as Porter’s five forces model.
The Five Forces of this model are mentioned below:
• Risk of entry by potential competitors
• Bargaining power of buyers
• Bargaining power of suppliers
• Threats of substitute products
• Rivalry intensity in the industry.
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