Sarah Works in a Very Competitive Industry

question 80

Multiple Choice

Sarah works in a very competitive industry.She often works hard to distinguish herself and her products from the competition.She does this by offering her customers:

• A)the generic product.
• B)a value-added product.
• C)a list of configuration options.
• D)a potential product.
• E)the expected product.

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Definitions:

Foreign Competition

The presence of competing products or services from other countries in a domestic market, which can influence local industries' performance.

Emerging Industries

Sectors that are in their initial stage of development, often characterized by high innovation and growth potential.

Production Chain

A series of steps involved in producing a product, from raw material extraction to the final goods being made available to consumers.

Services

Economic activities that provide intangible benefits or goods, such as healthcare, education, and entertainment.