The "Driving Forces" in an Industry

question 11

Multiple Choice

The "driving forces" in an industry

• A) are usually triggered by changing technology or stronger learning/experience curve effects.
• B) usually are spawned by growing demand for the product,the outbreak of price-cutting,and big reductions in entry barriers.
• C) are major underlying causes of change in industry and competitive conditions and have the biggest influences in reshaping the industry landscape and altering competitive conditions.
• D) appear when an industry begins to mature but are seldom present during early stages of the industry life cycle.
• E) are usually triggered by shifting buyer needs and expectations or by the appearance of new substitute products.

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Definitions:

Brand Extension

The practice of using an established brand name on a new product category, leveraging the brand's existing reputation and customer base.

Product Category

A broad classification that groups products based on common characteristics or needs.

Product Line Extension

The addition of new products to an existing product line within the same brand, usually to target a different customer segment or fill a gap in the product offering.

New-Product Strategies

The plans and approaches a business undertakes to bring new products to the market effectively.