Identifying competitors in an industry involves conducting market research to understand who else is offering similar products or services within the same target market. This can include analyzing market reports, attending industry events, and monitoring competitor websites and marketing materials. Additionally, conducting SWOT (Strengths, Weaknesses, Opportunities, Threats) analyses can help identify key competitors and understand their positioning relative to your own company.
The general environment includes factors like economic conditions, socio-cultural trends, and technological advancements that can impact the industry environment, which consists of competitors, suppliers, and buyers. Changes in the general environment can create opportunities or threats in the industry environment, influencing the profitability of a firm or industry. For example, a recession in the general environment may lead to reduced consumer spending in the industry environment, affecting sales and profitability.
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what are the critics explanation about today's beverages service industry?
explain the importance of use of ICT in hospitality industry with the advantages and disadvantages
A primary industry is one involved in the extraction of resources from their natural setting. An example of such is the mining industry.
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Was Estee Lauder's business in secondary or teriary industry? Explain.
explain role of reserch in both production
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In simple terms Accounting is the process(technique) of identifying, recording, summarizing, analysing and interpreting transactions & events.
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