Answer:
The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the competitive environment.
Explanation:
A competitive environment is a dynamic external system in which a business competes and functions. The more sellers of a similar product or service, the more competitive the environment in which you compete.
It is basically a smaller environment that includes specific organizations with which the organization occurs.
It includes:
- Threat of new entrants
- Threat of substitutes
- Rivalry among current competitors
- Power of customers
- Power of suppliers.
