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

---

Definitions:

Adaptive Smoothing

An approach to exponential smoothing forecasting in which the smoothing constant is automatically changed to keep errors to a minimum.

Bias

A forecast that is consistently higher or consistently lower than actual values of a time series.

Seasonally-Adjusted Sales Forecast

A prediction of future sales that has been modified to account for regular seasonal variations in demand or sales patterns.

Complementary Demands

A market condition where the demand for two or more goods is linked because the goods are used together, leading to a rise in demand for one affecting the other positively.