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ARE130 paper 2

ARE130 paper 2 - Professor Lundblad ARE 130 19 January 2011...

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Unformatted text preview: Professor Lundblad ARE 130 19 January 2011 Market Member Analysis: Wal-Mart The main goal in Agricultural Resource Economics 130 is to offer students a logical background that they will be able to apply to concepts covered later in the course. During the first lecture, we learned about several different models that were created with the intent to not only simplify, but also clarify the way we interpret markets. One model that I found most useful was Porter’s Five Forces Model. In it he is able to show every approach someone is able to partake in in a market. He also emphasizes that the most important and commonly seen force is Rivalry by placing it in the middle of his diagram and drawing arrows from the other forces to it. With Porter’s Model we learn that the intensity of rivalry is influenced by the more competitive a market is since everyone is aiming to achieve the competitive advantage over his or her competitors. Another theory Porter describes is the Threat of Substitutes, which states that a substitute exists when a...
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ARE130 paper 2 - Professor Lundblad ARE 130 19 January 2011...

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