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Under what conditions, competitive industry should expand or maintain the existing capacity. Brief evaluation of the...

Under what conditions, competitive industry should expand or maintain the existing capacity. Brief evaluation of the conditions are required.

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Answer #1

The conditions required are

  • Target the market:- Target the selected market that you want after gathering some information and skills.
  • Revive and reform your policies regularly.
  • Marketing is every one's job. So there will be a huge competition in and out.
  • Hire skilled workers.
  • Market proportions need to checked regularly.
  • Market operations need to be observed.
  • Made a mix of developing market by using 4Ps formula which include price,production, promotion, place.
  • Profile your competition.
  • Analyses market opportunities.
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