. Briefly explain Porter's five forces model and it's important to industry analysis. Discuss the competitive forces model with reference to what you know about the U.S. market for wireless telecommunications services (see the Opening Case). What does the model tell you about the level of competition in this industry? Under what environmental conditions are price wars most likely to occur in an industry? What are the implications of price wars for a company? How should a company try to deal with the threat of a price war