MANAGEMENT

Detailed explanation-1: -Secondary data refers to data that was previously collected for a different purpose besides the research at hand. This means the data has already been collected, generally by another individual or organization. Secondary data is used for different purposes but can be used specifically in marketing research.

Detailed explanation-2: -In economic theory, perfect competition occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers, buyers have perfect or full information, and companies cannot determine prices.

Detailed explanation-3: -Business Concept is a formula on how the enterprise exactly plans to make money out of the business.

Detailed explanation-4: -special packaging, changing location, providing extra services, brand loyalty (image), and advertising. disappear due to advances in technology or if a buyer finds an acceptable alternate. any changes made in price or promotion of products will lead to counter-moves by competition.