Competitive environment

Question 1

Direct competition

Answer 1

businesses that sell the same type of product

Question 2

Indirect competition

Answer 2

Business that don’t sell the same product but are still in competition each other

Question 3

Competitive factors:

Answer 3

Price
Quality
Location
Product range
Customer service

Question 4

What can the competitive factors do for a business

Answer 4

factors can mean a business is more or less competitive than another

Question 5

diversification

Answer 5

when a business starts selling new products in the market