When a Number of New Organisations Enter a Growth Market,the

question 71

Short Answer

When a number of new organisations enter a growth market,the amount of choice available increases.Such a situation would most closely be associated with the _____________________(four words)in Porter's 'five forces' model.

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Definitions:

Consumer Confidence

A measure of how optimistic consumers are about the overall state of the economy and their own personal finances.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Direct Competition

A situation in which products that perform the same function compete against one another. Also called category competition or brand competition.

Primary Competition

Direct competitors offering similar products or services within the same market or industry, targeting the same customer base.