Business and the Competitive Environment (AQA A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does Porter's Five Forces Model help businesses analyse?
What does Porter's Five Forces Model help businesses analyse?
Level of competition in their industry
When barriers to entry are high, what is the main benefit to existing businesses?
When barriers to entry are high, what is the main benefit to existing businesses?
New competition is limited
Which example shows forward vertical integration raising barriers to entry?
Which example shows forward vertical integration raising barriers to entry?
A clothing maker buying clothing retailers
When is buyer power high?
When is buyer power high?
Few buyers with many sellers
What is backwards vertical integration used to reduce?
What is backwards vertical integration used to reduce?
Buyer power
When is supplier power high?
When is supplier power high?
Few suppliers with many buyers
Why do mobile phone companies use 2-year contracts according to the note?
Why do mobile phone companies use 2-year contracts according to the note?
To reduce customer power to switch
How can businesses reduce the threat of substitutes through customer perceptions?
How can businesses reduce the threat of substitutes through customer perceptions?
Build brand loyalty via differentiation
When is rivalry within an industry intense?
When is rivalry within an industry intense?
Many equally-sized competitors exist
Why do banks offer hassle-free switching services?
Why do banks offer hassle-free switching services?
To attract customers from competitors