Why do you think competing businesses endeavor to differentiate? How can external factors regulate the nature of competition within an industry?
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Why do you think competing businesses endeavor to differentiate? How can external factors regulate the nature of competition within an industry?
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- Why might a company wish to remain a competitor in an industry despite low or declining profitability?How is a business's products and services positioned relative to their competitors?1. Consider some of the products that are widely advertised on television. By what kind of firm is each produced—a perfectly competitive firm, an oligopolistic firm, or another type of firm? How many major products can you think of that are not advertised on TV? 2. In what ways may the small retail sellers of the following products differentiate their goods from those of their rivals to make themselves monopolistic competitors: hamburgers, radios, cosmetics?
- How does the competitive landscape of an industry influence the business environment, and what strategies can companies employ to thrive in a competitive market?Mangement The business environment is a complex and dynamic set of factors that influence the operations and success of a company. It encompasses both internal and external elements, including market conditions, competition, government regulations, economic trends, technological advancements, and social factors. A company's ability to adapt and thrive within its specific business environment is crucial for its long-term sustainability and growth. Question: How can businesses effectively navigate and leverage the various components of the business environment to gain a competitive advantage in today's rapidly changing marketplace?how is competitive advantage different from competitive parity?