A company's closest competitors, its rivals are those that serve the same basic customer needs.
Correct Answer:
Verified
Q6: The starting point of strategy formulation is
Q7: Once the boundaries of an industry have
Q8: Opportunities arise when a company can take
Q9: Economies of scale arise when unit costs
Q10: Exit barriers are the economic, strategic, and
Q12: The risk of entry by potential competitors
Q13: Potential competitors are companies that are currently
Q14: A consolidated industry is dominated by a
Q15: Brand loyalty exists when consumers have a
Q16: A fragmented industry consists of a small
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