Which of the following is NOT one of the ways to define an industry?
A) A group of firms producing similar products
B) A group of competitors producing products that compete with each other
C) A group of companies that satisfy varying needs of customers
D) A club of like-minded entrepreneurs

Question

Quizplus · Accepted Answer

While an industry can consist of like-minded entrepreneurs, the definition of an industry is typically centered around the production and competition of goods and services, rather than the personal identities or preferences of the individuals involved. An industry can be defined in terms of four levels of competition (Kotler and Keller, 2012) based on brand competition, product competition, form competition, generic competition.

Which of the Following Is NOT One of the Ways