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The launch of store own brands such as Tescos Butter me up has had what effect on the competitive environment-

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Answer:

1. Increased price competitiveness
2. Increased pressure on market leading brands as it has eroded their market dominance.
3. Given the consumer an increased choice of products
4. Put additional pressure on the large manufacturers to provide further discount their original products to gain shelf space, instead of Tesco just stocking their own brand.
5. All of the above

Answer: All of the above

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An industry is defined as which of the following-A group of firms following the same or similar strategy is referred to as what-