BUS 1-8 Competition

BUS 1-8 Competition

9th Grade

10 Qs

quiz-placeholder

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BUS 1-8 Competition

BUS 1-8 Competition

Assessment

Quiz

Business

9th Grade

Medium

Created by

Steve Wills

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of conducting a competitive analysis in business?
To create a monopoly
To understand the competitive landscape and identify threats and opportunities
To increase product prices
To eliminate all competitors

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes direct competition?
Competition where companies offer essentially the same product or service
Competition between companies offering different products
Competition that occurs only in the same geographical area
Competition that involves only large corporations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role do substitutes play in competitive analysis?
They are irrelevant to competitive analysis.
They are the only form of competition.
They represent direct competition.
They represent indirect competition that can satisfy the same need.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Michael Porter’s 'Five Forces' framework help analyze?
The supply chain logistics
The marketing strategies of a business
The competitive forces within an industry
The financial performance of a company

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is primary data in the context of competitive research?
Data collected from secondary sources like reports
Information that is freely available on the internet
Information gathered from first-hand experience, such as customer interviews
Data that is outdated and no longer relevant

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a competitive analysis grid assist businesses?
It eliminates the need for market research.
It provides a list of all competitors in the market.
It illustrates differences between competitors using a visual format.
It guarantees a competitive advantage.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements about competition is true?
Competition eliminates the need for innovation.
Competition is harmful to all businesses.
Competition can lead to lower prices and better quality for consumers.
Competition only benefits businesses.

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