7 does any new entrant have to obtain licenses or any

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from a new entrant? 7. Does any new entrant have to obtain licenses or any other form of regulatory approval in order to enter this industry? Explain 8. What action are you likely to take if a new entrant comes in and competes with you in your market? Will you reduce price? Will you innovate? COMPLEMENTS 1. Are there firms in other industries that significantly affect the demand or price or value of the products/services in your industry but are neither buyers nor suppliers to firms in your industry (e.g., Killer Apps for the computer industry; airports for the airline industry etc.). Yes __x ___ No ____ 1a. If yes, identify these industries Toppings BUYERS 2
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1. Who is the typical customer in your industry? An individual or a firm in another industry? 2. How would you characterize the customers in your industry: (a) very few customers each buying a large percentage of your total output versus (b) many customers each purchasing a small amount of what you produce or offer as service? 3. Identify (at most) 3 reasons that would prevent your customer from going to your competitor. Taste, organic, 4. How easy is it for your customer to evaluate the relative merits of the products/services in your industry? Explain 5. Do your customers mainly look at price to determine where they will make their purchase or do they also look at quality, customer experience, features, etc.? Quality – even though consumers are poor, they like high-quality 6. Is it customary in your industry to offer incentives to the customers such as discount coupons, free samples, etc.?
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