An Example of Change in the Nature of Competition Is

question 78

Multiple Choice

An example of change in the nature of competition is:

• A)more cultural diversity.
• B)record low interest rates.
• C)growth of e- commerce.
• D)increased interest in urban living.

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Definitions:

Asian American

A term referring to individuals in the United States who have Asian ancestry from countries within the continent of Asia.

Buying Patterns

The habitual or typical behaviors and preferences of consumers when making purchasing decisions.

Diversity

The inclusion of individuals representing more than one national origin, color, religion, socioeconomic stratum, sexual orientation, etc., in a group or organization.

Problem Recognition

The first step in the consumer decision-making process, where the consumer identifies a need or problem that requires a solution.