The state of competition in an industry is a function of
A) the competitive pressures associated with the market maneuvering and jockeying for buyer patronage that goes on among rival firms in the industry.
B) competitive pressures coming from the attempts of companies in other industries attempting to win buyers over to their substitute products.
C) competitive pressures associated with the threat of new entrants into the marketplace.
D) competitive pressures associated with the bargaining power of suppliers and customers.
E) All of these.

Question

Quizplus · Accepted Answer

All of the choices listed contribute to the state of competition within an industry. The interactions between rival firms, competition from substitute products, the threat of new entrants, and the bargaining power of suppliers and customers all impact the competitive landscape of an industry. Therefore, choosing option E, which includes all these factors, is the correct answer.

The State of Competition in an Industry Is a Function