Competitive Environment Quiz

Which of the following best describes the competitive environment?

• It is limited to competition from other businesses in the same field.

• It includes any area that requires the business to compete.

• It is only about internal competition within the business.

• It excludes competition for supplies.

Which of the following is NOT a focus of the competitive environment?

• Competing for customers.

• Competing for markets.

• Competing for internal resources.

• Competing for supplies.

What is the competitive environment a mix of?

• Internal strategies and external threats

• Internal actions and external actions

• Internal plans and external plans

• Internal goals and external goals

Which of the following is a limitation of Porter's model?

• It assumes the industry is in a stable state

• It considers long-term market trends

• It predicts economic downturns

• It develops marketing strategies

What does the 'Bargaining Power of Buyers' force analyze?

• Number and size of suppliers

• Number of customers and size of each customer order

• Barriers to entry

• Industry growth

What is the impact on a business when it has a lot of choices over suppliers?

• It is likely to be able to shop around for lower price

• It is likely to have to pay high prices for its components

• It is likely to accept suppliers' terms and conditions

• It is likely to have little choice over the source of its suppliers

What must businesses do to stay competitive in a changing market?

• Ignore market changes

• Respond to market changes

• Maintain current strategies

• Reduce innovation

What has the growth of the Internet increased in the majority of markets?

• Barriers to entry

• Number of competitors

• Product life cycles

• Consumer tastes

What has increased competition with rivals from around the world?

• New businesses entering the market

• Changes in legislation

• Growth of the Internet

• Globalisation