ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The competitive environment
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The development of branding to differentiate the product from its competitors
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The degree and closeness of competition between similar businesses
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A location which is busy-such as a crowded beach
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The desire to operate in a market which is close to the customer base
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Explanation:
Detailed explanation-1: -Economists have identified four types of competition-perfect competition, monopolistic competition, oligopoly, and monopoly.
Detailed explanation-2: -What are the factors of a competitive environment? The factors of a competitive environment include number of sellers, product features, barriers to entry and price discovery. All these factors impact the level of competition in a certain market.
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