The fact that all firms in an industry do not move together negates the value of industry analysis.

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Industry analysis can still provide valuable insights and information on the overall trends and dynamics within an industry, even if individual firms may not move together in terms of their performance or strategies. By examining commonalities and differences among firms, industry analysis can help identify opportunities and threats, inform competitive strategies and positioning, and support informed decision making.

The Fact That All Firms in an Industry Do Not