The Two Broad Forms of Competition Are Macro Industry Competition

question 44

True/False

The two broad forms of competition are macro industry competition and micro product class competition.

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Definitions:

Environmental Scanning

The process of systematically gathering, analyzing, and integrating information about external trends and developments that could impact an organization's strategy.

Marketplace Trends

Predominant shifts or movements observed within a market or industry, influencing consumer behavior and business strategies.

Technological Environmental Force

External factors related to advancements in technology that can affect the operations and competitiveness of businesses within an industry.

Demographic Characteristics

Attributes of populations, such as age, race, gender, income, and education, used in market research and policy analysis.