Venus was a low-cost airline that operated in the 1980s. Industry analysts state that although Venus was able to provide all the services the customers wanted, it was thrown out of business because of aggressive pricing from larger airline firms. Which of the following aspects of the competitive environment does this scenario illustrate?
A)Customers
B)Rivals
C)Regulators
D)The economy
E)Social trends

Question

Quizplus · Accepted Answer

The competitive environment includes rivalry among current competitors and the impact of new entrants, substitute and complementary products, suppliers, and customers. In this scenario, the larger airlines constitute the rivals of Venus. The competitive environment is composed in part of rival firms such as the larger airlines in this example.

Venus Was a Low-Cost Airline That Operated in the 1980s