BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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companies in other industries attempting to win buyers over to their substitute products.
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associated with the market maneuvering that goes on among rival firms in the industry.
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associated with the threat of new entrants into the marketplace.
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all of these.
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Detailed explanation-1: -The competitive pressures on companies within an industry comes from those:-associated with the market maneuvering and jockeying for buyer patronage that goes on among rival firms in the industry.
Detailed explanation-2: -Porter’s five-forces model of competition is useful for determining the nature and intensity of an industry’s competition. Competitive pressures exist between each of the outer forces and the rivalry among competitors. The rivalry among competitors is the strongest of the five forces.
Detailed explanation-3: -Other than competitive intensity, the other four forces that shape competition in a market are the threat of new firms entering the market, suppliers gaining bargaining power, the bargaining power of buyers, and the threat of substitute products.