Question

The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the ________ environment.

Answer 1

Answer:

The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the competitive environment.

Explanation:

A competitive environment is a dynamic external system in which a business competes and functions. The more sellers of a similar product or service, the more competitive the environment in which you compete.

It is basically a smaller environment that includes specific organizations with which the organization occurs.

It includes:

• Threat of new entrants
• Threat of substitutes
• Rivalry among current competitors
• Power of customers
• Power of suppliers.