In a Situational Analysis, a Strategic Group Is a Group

question 73

Multiple Choice

In a situational analysis, a strategic group is a group of _____ that top managers choose for comparing, evaluating, and benchmarking their company's strategic threats and opportunities.

• A)non­industry specific companies
• B)expert managers
• C)trade journals and other relevant periodicals
• D)other firms within an industry
• E)consulting firms that use the Delphi technique

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Definitions:

Import Competition

The competitive pressure on domestic companies from foreign products and services entering the domestic market.

Oligopoly

A market structure characterized by a small number of large firms that dominate the market, leading to limited competition and the potential for collaborative behavior.

Differentiated Product

A product that is distinguished from similar products offered by competitors through unique features, branding, or quality, allowing the company to potentially command a higher price.

Homogeneous Product

A product that is seen as identical across different producers, making consumers indifferent between brands based on the product itself.