The best test of whether potential entry is a strong or weak competitive force is Select one: a. to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates b. whether the industry's driving forces make it harder or easier for new entrants to be successful. c. whether there are any vacant spaces on the industry's strategic group map d. whether the strategies of industry members are well-matched to the industry's key success factors. e. the strength of buyer loyalty to existing brands.

Question

Business

Isis Lynch

22 January, 02:13

The best test of whether potential entry is a strong or weak competitive force is Select one: a. to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates b. whether the industry's driving forces make it harder or easier for new entrants to be successful. c. whether there are any vacant spaces on the industry's strategic group map d. whether the strategies of industry members are well-matched to the industry's key success factors. e. the strength of buyer loyalty to existing brands.

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Answers (1)

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Kathryn Duffy · Answer 1

The correct answer is letter "A": to ask if the industry's growth and profit prospects are strongly attractive to potential entry candidates.

Explanation:

The worldwide economy has allowed firms to expand their operations benefiting them by exploring new markets and increasing their number of customers, thus, generating more revenue. Before the firm decides to go ahead with the venture, a market analysis must be performed to determine if the industry in the target country is growing and facilitates the operation of the business to ensure profits.