Formulate responses in your own words (do not merely copy answers from your reading materials); however, support the points you make with information from your course materials and from outside sources. Cite and document all sources of information with an appropriate reference. Your answer to each question should be between 250 and 500 words, or approximately 1 to 2 pages per question, typed, and double-spaced. Be sure to proofread your work carefully for correct spelling, grammar, and clarity of expression.
Answer the following essay questions.
A. Choose a specific industry (e.g., grocery retailing, the airline industry), and apply Porter’s Five Forces model to discuss that industry’s competitive forces and their relative influence. (Note: The following website provides useful information about the Porter model: Porter’s Five Forces: Understanding Competitive Forces to Maximize Profitability.) [MO1.1, MO1.2, MO1.3, MO1.4]
B. Discuss how online, social media, and other technology-related marketing tools could provide competitive advantages in the industry you analyzed in essay question A. [MO1.6, MO1.7]
C. Do you think firms that market products for children have any special ethical responsibilities when they advertise? Why or why not? Give examples that support your position. [MO1.5, MO1.6]
