According to Michael Porter, What Are the Forces That Together

question 66

Essay

According to Michael Porter, what are the forces that together define the nature of competitiveness in a given industry. Discuss the one force that is usually the most powerful.

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Definitions:

Consumer Behavior

The study of how individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences.

Social Class

A division of a society based on social and economic status.

Joint Decision Making

A collaborative process where two or more parties come together to make a decision on a particular issue, ensuring that all perspectives and interests are considered.

Groceries

Items of food sold in a grocery store, typically including fresh produce, meats, dairy, and various non-perishable foods.