The Three Different Types of Competitors a Business Will Face

question 32

Multiple Choice

The three different types of competitors a business will face are direct competitors, indirect competitors, and:

• A) future competitors
• B) nonstop competitors
• C) occasional competitors
• D) fragmented competitors
• E) irregular competitors

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Definitions:

Idea Screening

The process of evaluating new ideas to identify those with the greatest potential for further development and success in the market.

New-product Development

The process of bringing a new product to the marketplace, from the initial idea through research and development to eventual launch.

Online Communities

Groups of people who interact and share content or interests through the internet, often via forums, social media, or specialized platforms.

Input

Resources, information, or effort that goes into producing a service or manufacturing a product.