34 - Marketing And Competitiveness

Question 1

Market conditions

Answer 1

The nature of the product, the needs of consumers, the number of firms and the ease of entry to the market.

Question 2

Competitiveness

Answer 2

Characteristics that permit a firm to compete effectively with other businesses.

Question 3

Competitive advantage

Answer 3

Discovering and using methods of competing which are distinct and offer consumers greater perceived value, than those of rivals on the market.

Question 4

Degree of competition

Answer 4

The number and size of businesses operating in a given market, be it local, regional, national or international.