Porter's Five Forces Include New Vendors, Suppliers, Substitute Vendors, Customers

question 37

Multiple Choice

Porter's five forces include new vendors, suppliers, substitute vendors, customers, and

• A) finance.
• B) rivalry of firms.
• C) economic pressures.
• D) efficiency of production.
• E) marketing.

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Definitions:

Pricing Changes

Alterations made to the selling price of goods or services in response to market demands, cost fluctuations, or strategies.

Integrated Marketing Communications

A strategic marketing process designed to ensure that all messaging and communication strategies are unified across all channels to deliver a consistent message.

Consistent Message

Communication that is uniform and coherent across all marketing channels, ensuring that the brand's image and values are reinforced with each consumer interaction.

Promotion Alternatives

Different strategies companies use to market their products or services to consumers or other businesses.