According to Michael Porter, There Are Five Determinants of Competition

question 78

Multiple Choice

According to Michael Porter, there are five determinants of competition. An example of _____ is when a buyer purchases a large fraction of an industry's output and can demand price concessions.

• A) threat of entry
• B) rivalry between existing competitors
• C) pressure from substitute products
• D) bargaining power of buyers
• E) bargaining power of suppliers

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Definitions:

Structural Encoding

The process of encoding sensory input into memory based mainly on the physical structure and appearance of the stimulus.

Levels-Of-Processing Theory

A framework suggesting that memory retention depends on the depth of processing, with deeper, meaningful processing leading to better recall.

Deep Processing

Deep processing refers to a method of learning that involves engaging with the material on a meaningful level, such as through critical thinking and making connections to existing knowledge.

Chunking

A cognitive strategy that involves breaking down information into smaller, manageable units, making it easier to process and remember.