Competitors' Behaviour (VCE SSCE Business Management): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is a competitor?
What is a competitor?
A business rival in the same market
Which three key areas should businesses monitor about competitors?
Which three key areas should businesses monitor about competitors?
Products, pricing, and service changes
How often should businesses monitor their competitors?
How often should businesses monitor their competitors?
Continuously as an ongoing process
How has ALDI impacted the Australian supermarket sector?
How has ALDI impacted the Australian supermarket sector?
Lower pricing model forcing rivals to adapt
What is the main aim of inducements like 'Buy 3 Get 1 Free'?
What is the main aim of inducements like 'Buy 3 Get 1 Free'?
Attract customers & encourage purchases
What benefit do loyalty schemes provide by creating 'switching costs'?
What benefit do loyalty schemes provide by creating 'switching costs'?
Makes it harder to move to competitors
Which advantage do streaming services have over traditional pay TV?
Which advantage do streaming services have over traditional pay TV?
No lock-in contracts & easy cancellation
What advantage do traditional TV networks retain over streaming services?
What advantage do traditional TV networks retain over streaming services?
Ability to broadcast live events
How did major retailers respond to new ready-made meal competitors?
How did major retailers respond to new ready-made meal competitors?
Expanded range & added click-and-collect
What can competitor actions create for a business?
What can competitor actions create for a business?
Both opportunities and threats