Question

Customers Roles (Key Factor in Gap 3): Customer ROLE 3: Competitors: They may make a decision to do something themselves based on...?

Answer 1

In a competitive market, customers may make decisions based on the actions of their competitors. Understanding market structure and competition is important for businesses as it influences consumer behavior.

Step-by-step explanation:

In a competitive market, customers may make a decision to do something themselves based on the actions of their competitors. This is because competition can impact the choices a consumer makes. For example, if a customer sees that a competitor is offering a similar product at a lower price, they may decide to do it themselves by purchasing from the competitor instead. This is why understanding the market structure and competition is important for businesses as it influences consumer behavior.