Examlex

Solved

Amy Spends Very Little Time to Shop for Bath Soaps

question 45

Short Answer

Amy spends very little time to shop for bath soaps and beauty creams as she uses only the products offered by Eve's Aura,a manufacturer of bath and beauty products.As Eve's has a wide distribution network,its products are available in almost every retail outlet in Amy's locality.In this scenario,the bath and beauty products from Eve's Aura are examples of__________products.


Definitions:

High Barriers

Refers to obstacles that prevent new competitors from easily entering an industry or area of business.

Differentiated Products

Products that are distinct from one another on the basis of quality, features, branding, etc., allowing businesses to target specific market segments.

Competing Firms

Businesses that operate in the same market and offer similar products or services to the same consumer base, often engaging in competition for market share.

Intense Market Competition

A market characteristic where numerous firms vie aggressively for market share, leading to innovations and competitive pricing.

Related Questions