A product orservice that customers have come to expect from an industry, which must be offered by newentrantsiftheywishto compete and survive, is knownas a(n)?

Question

Quizplus · Accepted Answer

Entry barriers are factors that make it difficult for new entrants to enter a market. Offering a product or service that customers expect from an industry is considered an entry barrier because new entrants must offer this to compete and survive.

A Product Orservice That Customers Have Come to Expect from an Industry