Marketing and competitiveness Flashcards
1
Q
What is degree of separation?
A
The number and size of businesses operating in a given market, be it local, regional, national or international.
2
Q
What is market condition?
A
The nature of the product, the needs of the consumers, the number of firms and the ease of entry to the market.
3
Q
What is competitiveness?
A
Characteristics that permit a firm to compete effectively with other businesses.
4
Q
What is competitive advantage?
A
Discovering and using methods of competing which are distinct and offer consumers greater perceived value, than those of rivals in the market.
