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WorksheetsSGS Business 1.2.4 The Competitive Environment
Total questions: 14
Worksheet time: 7mins
Which of the following statements best describes the term, competition?
When different businesses attempt to attract different customers
When businesses do not have any rivals
When different businesses attempt to attract the same customers
When different businesses have only one supplier of raw materials
Which of the following is an example of a business that has a competitive strength based upon quality?
A discount supermarket that offers value for money groceries
A local convenience store that sells a wide range of commonly used products
A restaurant which uses fresh, local produce in all of its dishes
A coffee shop that has an outlet on a busy shopping street
Which of the following ways might a small successful technology firm manufacturing unique products use to compete with its rivals?
Reduce its prices
Offer an excellent after sales service
Reduce its product range
Relocate production to a busy high street
Which of the following is a competitive weakness based on location?
A footwear shop offers a kids shoe fitting service by untrained staff
A supermarket frequently runs out of stock of popular product lines
A local café serves food to customers which is cold
A restaurant locates on a quiet side street in a busy town
Which of the following businesses is best known for its ability to compete with its rivals on price
Marks & Spencer
Waitrose
Lidl
Tescos
A national retailer offers to refund the difference if customers find the same productcheaper elsewhere. This is an example of competition based on:
Location
Price
Promotion
Product range
In an extremely competitive market, a business may be forced to:
Increase costs to enable a reduction in quality
Increase costs to enable price rises
Cut costs to enable price reductions
Cut costs to enable an increase in quality
A damaged reputation would be considered a...?
S
W
O
T
Great customer service would be considered a...?
S
W
O
T
By identifying areas under the weaknesses section how does this help you develop.
So that you can avoid them.
So that you can pretend they don't exist and ignore them
Use them to identify areas for development and focus on them.
By allowing other people to see them and use them against you.
