Companies Often Try to Draw the Attributes Necessary to Position

question 1

Multiple Choice

Companies often try to draw the attributes necessary to position a firm.The process of drawing two attributes at a time to visualize the market is called ________.

• A)Virtual mapping
• B)Perception training
• C)Visual mapping
• D)Perceptual mapping
• E)Flow charting

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Definitions:

Substantial Entry Barriers

Significant obstacles that prevent or hinder new competitors from easily entering an industry or market.

Dominant Firms

Companies that possess a major share of the market and typically have considerable power to influence market conditions and prices.

Low Entry Barriers

Characteristics of a market or industry that make it easy for new companies to start operations and compete.

Homogeneous Oligopoly

A market structure characterized by a few firms producing identical or very similar products, leading to significant inter-firm competition.