The fact that a company can employ a market development strategy whereby it upgrades its production plant equipment so it can increase its output enabling it to sell more of the same product to several more markets is a result of which of the following forces?
a) Demographic forces
b) Social
c) Competitive
d) Technological
e) Physical forces (natural or man-made)
Expert Answer
The correct answer is c) Competitive Force.
Competitive Forces sway the competitive spot of a company in a market. Competitive forces include:
Negotiating power of the purchaser and purveyor
Risk of new competitors
Competition amongst active businesses.
This helps a firm to increase its output enabling
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