Bright Inc.is a toothpaste manufacturing company that is facing intense competition from its rivals.In order to encourage higher consumption of its products as well as minimize brand switching among its existing consumers, Bright introduced sweepstakes as a consumer sales promotion strategy.However, its rivals retaliated by introducing deals such as a featured price which is lower than the regular price, buy one, get one free offers, and large package offers that give a percentage more free.This scenario best illustrates a _____.
A) primary industry
B) secondary industry
C) fragmented industry
D) concentrated industry

Question

Quizplus · Accepted Answer

The scenario best illustrates a fragmented industry where there are many competitors offering similar products and utilizing various promotional strategies to attract customers. This intense competition often leads to a price war and the use of various sales promotion strategies, such as sweepstakes and deals, to entice customers to choose their brand over competitors.