An industry that has many companies offering the same basic product, but with some slight difference is B. monopolistic competition.
Monopolistic competition is found in industries where slight differences of a product is possible but they basically offer the same thing. A few examples of monopolistic competition are those in the restaurant or hospitality career field. These businesses offer food or hotel rooms which are what their competitions offer as well, but what they include within their packages or their food offerings may differ.
Answer:
Successful innovation allows you to add value to your business so that you can increase your profits—if you don't innovate well, your business will plateau. Innovation helps you stay ahead of the competition. With globalization and a rapidly changing market, there are more competing businesses than ever before.
<h2><u>
Hope This Helped!</u></h2>
Answer:
The correct answer is letter "A" and "C": An increase in the family's car payment means the family will be unable to afford a vacation; A newer model offers better protection and functions but is more expensive than an older model.
Explanation:
Trade-offs are the result of comparing what must be acquired with what should be given up to satisfy most of a need. While selecting a new vehicle, a family must consider its capacity, size, and price. Besides, they will have to evaluate all the could be left behind for incurring such expenses like buying a new piece of furniture of use of most members of the family, remodeling part of the house or going on a family vacation.
Answer:
Consumer Insights
Explanation:
After reviewing the existing data on seasonal spending by his company's customers, Lucas decided that he needed to collect new information to address his particular research questions. Lucas will need <u>Consumer Insights</u> data to address the questions in his marketing research study.
<u>Consumer insights research does more than tell you about who your customers are and what they do.</u> It reveals why customers behave in certain ways and helps you leverage that to meet your business goals.
This type of market research can help Lucas<u> anticipate consumer needs, spark innovation, personalize your marketing, solve business challenges, and more.</u>
