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The five-forces model was developed in Porter's 1980 book, Competitive Strategy: Techniques for Analyzing Industries and Competitors. To Porter, the classic means of developing a strategy—a formula for competition, goals, and policies to achieve those goals—was antiquated and in need of revision. Porter was searching for a solution between the two schools of prevailing thought-the Harvard Business School's urging firms to adjust to a unique set of changing circumstances and that of the Boston Consulting Group, based on the experience curve, whereby the more a company knows about the existing market, the more its strategy can be directed to increase its share of the market.


圖片參考：http://www.referenceforbusiness.com/management/images/eom_0005_0001_0_img0142.jpg

Figure 1 Porter applied microeconomic principles to business strategy and analyzed the strategic requirements of industrial sectors, not just specific companies. The five forces are competitive factors which determine industry competition and include: suppliers, rivalry within an industry, substitute products, customers or buyers, and new entrants (see Figure 1).


Although the strength of each force can vary from industry to industry, the forces, when considered together, determine long-term profitability within the specific industrial sector. The strength of each force is a separate function of the industry structure, which Porter defines as "the underlying economic and technical characteristics of an industry." Collectively, the five forces affect prices, necessary investment for competitiveness, market share, potential profits, profit margins, and industry volume. The key to the success of an industry, and thus the key to the model, is analyzing the changing dynamics and continuous flux between and within the five forces. Porter's model depends on the concept of power within the relationships of the five forces.

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2.Undifferentiated targeting
This targets the whole market with one marketing mix.

Differentiated targeting
This targets several market segments with a different marketing mix for each segment.

Concentrated targeting
This targets just one segment within the total market. There are advantages and disadvantages to each targeting strategy, with, again, the choice being dependent upon many factors such as company size and resources, market risks, competitors and so on.

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