Craft and Micro-Breweries Have Sparked Consumer Interest in a Wide

question 38

Multiple Choice

Craft and micro-breweries have sparked consumer interest in a wide variety of flavor profiles and interest in supporting small, locally owned businesses. In addition, these companies have created pressure on established brands such as Budweiser and Miller that have increased promotional activities and reduced prices as a strategy to retain customers. Craft breweries are an example of _________, one of Michael Porter's five competitive forces.

• A) threat of new competitors
• B) supplier power
• C) buyer power
• D) retailer power

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Definitions:

Mayoral Election Race

A competitive political event in which candidates vie for the mayor's office in a city, town, or municipality.

Majority of Votes

A voting outcome in which more than half of the votes cast are in favor of a particular option or candidate.

Margin of Error

An indicator of the precision of an estimate, showing how much the estimated value could vary from the true value.

Confidence Level

A statistical measure that quantifies the certainty of an estimation or test result, often expressed as a percentage.