Question

Potential rivals will not find it difficult to enter a market where:

a. Existing firms have long-term contracts with the biggest customers

b. Product differentiation is very strong

c. Existing firms have the ability to retaliate strongly

d. Economies of scale are insignificant

Answer 1

In order to address the mass customization principle to the company, the use of recommender system is suggested. This system helps recommend the proper products to the customers and helps customers make the decision during the purchasing process. The recommender system could be operated through the top sellers on the website, the demographics of customers or the consumers' buying behavior. However, there are 3 main ways of recommendations: recommending products to customers directly, providing detailed products' information and showing other buyers' opinions or critiques. It is benefit for consumer experience without physical shopping. In general, recommender system is used to contact customers online and assist finding the right products they want effectively and directly

Answer 2

Potential rivals will not find it difficult to enter a market where:

a. Existing firms have long-term contracts with the biggest customers

b. Product differentiation is very strong

c. Existing firms have the ability to retaliate strongly

d. Economies of scale are insignificant.

The correct answer is :

d. Economies of scale are insignificant.

Explanation :

Potential competitors will not find it difficult to enter a market where economies of scale are unimportant. In any market that has potential competitors, it is relatively easy to enter such a market. Where economies of scale are of no importance. In a market where the existing firm has long-term contracts with its largest client, it is difficult for potential competitors to enter.

Furthermore, in a market where product variations are very high and at very strong levels and firms that exist are likely to react strongly, it is extremely difficult for potential competitors to enter such a market, but with economies of scale. One can easily enter the market in which it is important.

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