What I need done is the bullet in red with a reference added. At least 250- 350 words for thesection.Purpose of AssignmentThe purpose of this assignment is to help students understand how manufacturing and servicecompanies can maximize their competitive advantage. The Porter Model is discussed as a methodto categorize and assess businesses and industries.Assignment StepsWritea 1,050-word report in which you address the following:Examine and discuss competitive strategies that manufacturers can use to gain competitiveadvantage.Appraise costing and financial strategies for manufacturing and service companies.Identify value chain strategies for both manufacturing and service companies.Discuss (Porter's Model) and categorize (NAICS) the industry of a company the LearningTeam selects.Cite3 scholarly references, including at least one peer-reviewed reference from the UniversityLibrary.Formatyour paper consistent with APA guidelines.Clickthe Assignment Files tab to submit your assignment