Industry analysis is defined as the technique used to:
A) determine the magic number in a particular industry.
B) determine the extent to which a product is similar to another product.
C) study the dynamics and trends of an industry.
D) study the effects of low cost on an industry.

Question

Quizplus · Accepted Answer

Industry analysis is the study of the dynamics and trends of a particular industry. It examines factors such as market size, competition, regulatory environment, technological advancements, and consumer behavior to gain insights into the industry's current state and determine its future outlook. The goal of industry analysis is to help businesses make informed decisions and develop effective strategies to compete successfully in the industry. Therefore, C is the correct answer. A, B, and D are incorrect because they do not accurately describe the purpose or scope of industry analysis.

Industry Analysis Is Defined as the Technique Used To