Regarding the competitive environment:
A) It is easy to find environments that are "competitor-free."
B) Monopoly situations are more common than are situations characterized by monopolistic competition.
C) "Competitive rivals" are a firm's closest competitors.
D) Competitor analysis should begin with an identification of competitors from the viewpoint of the manager, not the consumer.
E) All of the above.

Question

Quizplus · Accepted Answer

"Competitive rivals" are those firms that offer similar products or services to the same target market. They are typically a firm's closest and most direct competitors. The other options are incorrect. It is rare to find a competitor-free environment, and monopoly situations are not as common as situations with monopolistic competition. Competitor analysis should begin with an identification of competitors from the viewpoint of the consumer, not the manager.

Regarding the Competitive Environment