If similar competitors vie for the same customers in a marketplace, they are likely to escalate their competitive strategy through a reactive series of actions and responses.
Answer the following statement true (T) or false (F)
True
New entry into markets, whether by start-ups or by incumbent firms, nearly always threatens existing competitors. This is true in part because, except in very new markets, nearly every market need is already being met, either directly or indirectly, by existing firms. As a result, the competitive actions of a new entrant are very likely to provoke a competitive response from companies that feel threatened. This, in turn, is likely to evoke a reaction to the response. As a result, a competitive dynamic of action and response begins among the firms competing for the same customers in a given marketplace.
You might also like to view...
Devaluation refers to a ______.
A. reduction in the value of a currency B. drop in market value for a company C. reduction in the price of a product D. loss of market share for a product
John Elkington introduced the concept of __________________, arguing that corporate capitalism can become sustainable capitalism.
What will be an ideal response?
Which of the following actions is performed during the final stage of an effective social media plan?
a. Setting objectives that can be specifically accomplished through social media b. Examining trends and best practices in the industry c. Listening to customers and understanding their expectations d. Making changes to a newly implemented campaign based on consumer response
Select the correct statement about polishing and proofreading your résumé
A) Use as many headings as possible to make your résumé easier to read. B) Seek the help of a résumé-writing service for a résumé that will stand out in a competitive job market. C) Use longer phrases and complex words as often as possible to make yourself look more accomplished. D) Because it's probably the most important message you'll ever write, your résumé must be perfect.