A Five Forces analysis identifies factors that affect the attractiveness of an industry. A key element of attractiveness is how easy it is to be profitable. Remember from financial statements that the general formula for profitability is Revenues - Expenses = Net Profit. Being profitable means effectively managing the pieces of the profit equation, in other words, managing drivers of revenue and drivers of expense. The statements listed below all identify factors that fit a Five Forces analysis for the candy and snack industry. Examples of competitors in the industry include Hershey. Mars, and Nestle. From the list of statements below, select the statements that tend to affect the Expenses part of the profitability equation more directly than they affect the Revenue side (instead of the statements that tend to affect the Revenue part more directly). Focus on the factors for which the first concern would be an effect on Expenses. Four of the statements deal significantly with expense concerns - identify those four statements. a) The confectionery (chocolate and sweets) and snacks packaged goods industry is intensely competitive, and some of our competitors are large companies that have significant resources for bidding on input materials, for innovating and developing new products, and for negotiating for shelf space from retail customers. b) With a reasonable time lag, our company is able to change prices and weights of products when necessary to accommodate changes in input costs and the competitive environment. c) Many of our confectionery and salty snack brands enjoy wide consumer acceptance and are among the leading brands sold in the marketplace in North America and certain international markets. We benefit from brand loyalty and recognition of the iconic labels. d) Cocoa products are the most significant raw materials used to produce chocolate products. Supply of these inputs is concentrated in one region of d) Cocoa products are the most significant raw materials used to produce chocolate products. Supply of these inputs is concentrated in one region of the world with West Africa accounting for approximately 70% of the world's supply of cocoa beans. e) Competition in the industry is based on research into customer preferences and development of new products which is often costly and uncertain that it will generate a marketable product. f) In order to compete against strong and large competitors, we may be required to increase expenditures for promotions and advertising but, due to the risk that customers might not like or respond to the ads, the increased expenditures may not prove successful