Discuss the Different Types of Competitive Pressures That Firms Competing

question 39

Essay

Discuss the different types of competitive pressures that firms competing in a global marketplace face. How can firms respond to such pressures?

---

Definitions:

Durable Goods

Goods not for immediate consumption and able to withstand use over time, such as appliances, cars, or furniture.

Promotional Mix

The blend of different marketing strategies and tools a company uses to effectively communicate its marketing message to its target audience, including advertising, sales promotion, and public relations.

Personal Selling

A sales technique involving direct interaction between a salesperson and a customer with the goal of persuading the customer to purchase a product or service.

Public Relations

The practice of managing and disseminating information from an organization to the public to influence their perception and maintain a positive image.