Briefly state the difference between a market and an industry ANS A market

Briefly state the difference between a market and an

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3.Briefly state the difference between a marketand an industry. PTS: 1 REF: p. 84-85 OBJ: 3-5 TYPE: C 4.List the five factors that determine the nature and degree of competition in an industry, as presented by Michael Porter in his book Competitive Advantage . PTS: 1 REF: p. 72 OBJ: 3-3 TYPE: C 5.Name and describe the two broad-based strategy options that a firm can select when pursuing a competitive advantage in the marketplace.
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PTS: 1 REF: p. 77-78 OBJ: 3-4 TYPE: C 6.What marketing activities suggest that a small firm is following a focus strategy? PTS: 1 REF: p. 80 OBJ: 3-4 TYPE: C 7.What are the four conditions under which a segmented market can erode? PTS: 1 REF: p. 82 OBJ: 3-4 TYPE: D
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