Competitive environment Flashcards
1
Q
Direct competition
A
businesses that sell the same type of product
2
Q
Indirect competition
A
Business that don’t sell the same product but are still in competition each other
3
Q
Competitive factors:
A
Price
Quality
Location
Product range
Customer service
4
Q
What can the competitive factors do for a business
A
factors can mean a business is more or less competitive than another
5
Q
diversification
A
when a business starts selling new products in the market
