Question

what are some of the strengths and limitation of the five forces model

Answer 1

                                        Porter's Five Forces Model

Strengths:
- It gives you an easy and understandable framework to understand competitive forces
- Lets you have a more informed response to marketplace

Limitations:
- It is majorly applied for markets that have a simple structure
- Non-market forces are not taken into consideration
- The market structures are seen as relatively static in this model
- The market we have to deal with today is a lot different from the one present in the 1900s