A group of firms following the same strategy in a given target market is called a(n)________.
A) cartel
B) cabal
C) cooperative
D) informal alliance
E) strategic group

Question

Quizplus · Accepted Answer

A group of firms following the same strategy in a given target market is called a strategic group. A cartel is a group of firms that collude to control prices and restrict competition. Cabal and informal alliance are similar to cartels, where firms collude to gain an advantage over their competitors. A cooperative is a form of collaboration where firms work together to achieve common goals.

A Group of Firms Following the Same Strategy in a Given