In practice, drawing the boundaries of industries and markets is
A)a matter of personal preference on behalf of top managers.
B)almost impossible to carry out with rigor because it requires many "rules of thumb" and approximations.
C)largely a matter of judgment and experience contingent on the purpose of the analysis.
D)critical to the output of the analysis and therefore should only be undertaken with the help of an academic or consultant.

Question

Quizplus · Accepted Answer

Drawing the boundaries of industries and markets can be a complex task as it requires identifying the scope of the analysis and determining what should be included and excluded. The process involves a combination of objective criteria such as product similarity, customer groups, and geographic regions, as well as subjective judgment and expertise. The purpose of the analysis and the intended use of the results also influence the selection of the boundaries.

In Practice, Drawing the Boundaries of Industries and Markets Is