Competition from Alternative Products and Services That Satisfy the Needs

question 66

Multiple Choice

Competition from alternative products and services that satisfy the needs of a common market is called

• A) monopolistic competition.
• B) direct market.
• C) direct competition.
• D) indirect competition.
• E) oligopoly.

Understand the concept and types of synergy and their implications for businesses.

Comprehend Porter's Generic Strategies and the variables of competitive advantage and scope.

Recognize the importance of brand loyalty and image in cost-leadership and differentiation strategies.

Identify examples of companies employing cost leadership and differentiation strategies.

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