If your company has a lot of competitors , what does that do to your demand a . makes it less elastic b . makes it more elastic c . makes it less need-based d . makes it more need-based

C . Makes it less need-based

Explanation:

The competing market is one that consists of companies that provide products or services identical to yours. Knowing who your competitors are, what their differentials, the audience, values, strategies, products and services is critical. To do so, conducting a thorough study of the competing market will certainly help in understanding the stage your business is in, as well as in developing strategic actions.

Now, even with fierce competition, don't worry. The competing market is an indication that there is demand, meaning there is an audience interested in paying for your products or services. However, the growth of companies competing with you will influence this demand by making it less need-based, so you must work to make your product different.

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