Choose an industry, assume that you wish to open a new company in the industry chosen in a specific location. As you have no previous experience in the industry, you need to examine the industry to get an idea of what it is all about. You need to know who and what your competitors are (low price, medium price, high price, etc) and how the market is made up. You are simulating the possibility of opening a new store and fitting it into the existing marketplace structure. Write a report outlining the strategic groups in the industry and how they relate, and where you think your new store will fit. However, do not get distracted by thinking about detailed operational matters as you need to think about the market entry in terms of strategic management! Use the following headings in your assignment: 1. Introduction – type of outlet you are going to open (and why) 2. Types of stores operating in the industry in the city 3. The macro-environment – briefly discuss main factors 4. Porters model – discuss the five forces in terms of the industry 5. The industry life cycle – where is the industry? 6. Strategic recommendations at functional and business level If you cannot obtain the data that you need make assumptions Idea: Open an entertainment company in Brisbane