re marks ecl 2 1 industry analysis porter s five forces provides a convenient framework for exploring the economic factors that affect profits and prices of an systematically comprehensively applies tools to analyse in depth how can firm make opportunities success threats basis generating strategic choices service sectors as well industrial limitations it does not address size demand or its growth focusses on entire particular explicitly account role government is qualitative internal rivalry supplier power buyer substitute products entry 3 economics this may occur via price competition non see lectures 5 six favour market structure many sellers no product differentiation homogeneous nature sales process secretive large lumpy capacity utilisation excess consumers buyers motivated capable low switching costs even
