Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following is NOT one of Porter's Five Forces of Competitive Analysis?
Which of the following is NOT one of Porter's Five Forces of Competitive Analysis?
- Bargaining power of buyers
- Threat of new entrants
- Threat of substitutes
- Demographic characteristics (correct)
What does a high threat of new entrants in an industry signify?
What does a high threat of new entrants in an industry signify?
- The industry is highly attractive for existing firms
- Existing firms can maintain high profits
- The industry is less attractive due to increased competition (correct)
- There are high barriers to entry in the industry
What is the purpose of conducting primary research in market research?
What is the purpose of conducting primary research in market research?
- To determine sales potential of a product
- To gather data directly from customers and potential customers (correct)
- To identify target markets for a product
- To analyze information from books and magazines
Which of the following is NOT a step in a market research plan?
Which of the following is NOT a step in a market research plan?
Signup and view all the answers
What does a high bargaining power of suppliers in an industry indicate?
What does a high bargaining power of suppliers in an industry indicate?
Signup and view all the answers
Which of the following is an advantage of conducting primary research?
Which of the following is an advantage of conducting primary research?
Signup and view all the answers
What does a high threat of substitutes in an industry signify?
What does a high threat of substitutes in an industry signify?
Signup and view all the answers
Which of the following is NOT a step in a market research plan?
Which of the following is NOT a step in a market research plan?
Signup and view all the answers
What does a high intensity of competitive rivalry in an industry indicate?
What does a high intensity of competitive rivalry in an industry indicate?
Signup and view all the answers
Which of the following is an example of secondary research?
Which of the following is an example of secondary research?
Signup and view all the answers
