Business strategies are impacted by the widespread use of the Internet.Which of the following is true with respect to its impact?

Question

Quizplus · Accepted Answer

The widespread use of the Internet has reduced the barriers to market entry, allowing new businesses to enter markets more easily than they would have been able to in the past. This has intensified competition and made it more challenging for established firms to maintain their market positions.

Option A is incorrect because the Internet has increased substitution threats, as consumers can now easily compare and choose from a wider range of products and services.

Option C is incorrect because the Internet has increased the bargaining power of end-users, as they now have more information and options at their disposal and are thus better equipped to negotiate with businesses.

Option D is incorrect because the Internet has increased consumer awareness about the differences among competitors, as consumers can now easily research and compare the features and benefits of different products and services.

Business Strategies Are Impacted by the Widespread Use of the Internet.Which