An Industry Is Defined as a Group of Organisations Producing

question 4

True/False

An industry is defined as a group of organisations producing close substitutes.

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Definitions:

Criteria

Standards or benchmarks used to evaluate or make decisions about something.

Postpurchase Behavior

The actions and reactions of consumers after buying and using a product, including levels of satisfaction, repeat purchases, and feedback or complaints.

Consumer Purchase Decision

The process by which individuals decide whether, what, when, from whom, and how much to buy a product or service.

Alternative Evaluation

The process consumers undertake to assess the benefits and drawbacks of different options before making a purchase decision.