To Predict Competitive Behaviors, Porter Suggests a Four-Step Framework, Where

question 64

Multiple Choice

To predict competitive behaviors, Porter suggests a four-step framework, where analysts sequentially identify:

• A)The rival's current strategy, its objectives, then its assumptions about the industry, and finally its available resources and competencies
• B)The rival's current strategy, its assumptions about the industry, then its available resources and competencies, and finally its weaknesses
• C)The rival's assumptions about the industry, its available resources and competencies, then its objectives, and finally its competitive advantage
• D)The rival's available resources and competencies, its objectives, then its competitive advantage, and finally its current strategy

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Definitions:

Demand

The consumer's desire and willingness to pay for a product or service at a specific price.

Supply

The total amount of a good or service that is available for purchase at any given price point.

Equilibrium Price

The equilibrium price where the supply of goods meets the demand for those goods in the marketplace.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market price.