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14-01-2020
Business

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Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its _____ environment.

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15-01-2020

Answer: Competitive environment.

Explanation:

The competitive nature of a market, is the level to which sellers present in the market compete for available buyer in the market.

A company entering a competitive market newly, needs to carefully study their competitors, to knows areas they can perform much better than their competitors in.

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