Use Porter's Five Forces method to analyze the chocolate industry in the U.S. The Five Forces method identifies and analyzes 5 competitive forces that shape an industry, and helps determine an industry's weaknesses and strengths. The analysis must include:
1. Competitive rivalry in the industry
2. Threat of new entrants into the industry
3. Bargaining power of suppliers
4. Bargaining power of customers
5. Threat of substitute products
Hello! I am happy to help you with this question. The first step is to look at all the options for chocolate in the United States. Does the industry include only chocolate candy or any product containing chocolate? How many chocolate companies and brands exist in the United States? What about imported chocolate products? Is one type of chocolate, such as milk chocolate, considered a competitor to any other chocolate?
Does the recent publicity about dark chocolate or any other ...
The key to understanding any consumer product and its market is to look at the product from the vantage point of the consumer as well as other suppliers of that specific product. What factors (no matter how small) influence the consumer's choice to buy that product?