A marketing manager must compete for customers with competitors who are offering very similar types of products, and where there are just a few sellers in the industry. This environmental situation would best be described as
A. an oligopoly
B. head-on competition
C. a democracy
D. industry leadership
E. a monopoly
Answer: (A) According to a traditional economic point of view, most products move toward oligopolistic competition or pure competition as they move through the product life cycle. The situation best describes a situation with relatively few sellers. (B) is not the most correct answer, although it may refer to the situation. The competition may be head-on, or it may not be. (C) is also incorrect. Democracy refers to a governmental environment. (D) is also incorrect. Industry leadership is a descriptive phrase for the company that has top sales, or market share, in a particular industry or field. (E) is incorrect. A monopoly would best be defined as little, or no competition, with one company dominating an industry.