In a _____________ situation, competitors offer very similar marketing mixes, which customers see as close substitutes, and managers just compete with lower and lower prices as profit margins shrink.
A) capitalistic competition
B) pure competition
C) monopoly
D) monopolistic competition
E) collectivist competition

Question

Quizplus · Accepted Answer

In a pure competition, competitors offer very similar marketing mixes. Because customers see the different available products as close substitutes, managers just compete with lower and lower prices, and profit margins shrink.

In a _____________ Situation, Competitors Offer Very Similar Marketing Mixes