Match Each Item with a Statement Below

question 21

Multiple Choice

Match each item with a statement below:

-Concept to identify organizations within an industry that have similar business models and/or strategic orientations so that they directly compete with each other

• A)oligopoly
• B)perfect competition
• C)low-cost leadership
• D)economies of scale
• E)external environment
• F)strategic group
• G)monopolistic competition
• H)market niche
• I)monopolies
• J)value chain

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Definitions:

Information

Data that is processed, organized, structured, or presented in a given context to make it meaningful or useful.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Pricing

The process of determining the value or amount charged for a product or service.

Market

A market is a venue where buyers and sellers come together to exchange goods, services, or information, either physically or virtually.