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Ch5

a sleek, modern infographic illustrating various business trends and competitive forces in an urban setting

Trends and Industry Insights Quiz

Test your knowledge on the fundamental concepts of trends, industry analysis, and competitive forces with this engaging quiz! Perfect for students, business professionals, and anyone interested in gaining a deeper understanding of the market landscape.

10 questions covering key industry and business trends
Multiple choice format for easy participation
Understand the competitive environment better

10 Questions2 MinutesCreated by AnalyzingData102

There are two types of trends:

Environmental

Business

A and B

Trends

Social

D and E

Industry analysis: An industry is a group of firms producing a similar product or service, such as music, Pilates and Yoga studios, and solar panels.

True

False

Business trends include economic trends, social trends, technological advances, and political and regulatory changes.

True

False

The five competitive forces model is a framework for understanding the structure of an industry.

True

False

...... Is a condition that creates a disincentive for a new firm to enter an industry.

Environmental trend

Barrier to entry

Business trend

Buyers can suppress the profitability of the industries to which they sell by raising prices or reducing the quality of the components they provide

True

False

Emerging Industries

Industries that are characterized by a large number of firms of approximately equal size.

Industries that are experiencing slow or no increase in demand.

Industries that are experiencing a reduction in demand.

Recent changes in demand or technology

A competitor analysis is a detailed analysis of a firm’s competition.

True

False

Direct competitors :

Business offering similar or identical product

Business offering close substitute product

Competitive intelligence: A tool for organizing the information a firm collects about its competitors.

True

False

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